Plasybryn I told you repeatedly about this but you chose to ignore me. It would appear that we've all been royally screwed and trader465 is on the right track. Take it on the chin or better still, do something constructive like some investors have done. At least that should give you some satisfaction. |
Hargreaves Lansdown say we can't vote till probably the 16th. Not sure how you can vote now. Not yet formal is it? |
trader465 I can answer that. Because they're stupid. |
100,000 shares at 20p just 18 months ago would have cost £20,000. They are now worth £1,600, how can people here claim to be making money by averaging down? |
Does anyone here hold their shares through Interactive Investor. Had e mail from them regarding the vote, but when I click on Vote Now all I get is a load of advertising of their products with nowhere to actually vote? |
So did we. |
As with most on LSE i shall be voting NO |
Just voted. I took the advice of my fellow shareholder friend in Stourbridge, mainly because I was stupid to invest here and I didn't understand the provided link that said:- "We are a leading multi asset, multi jurisdictional gold producer with focuses on responsibly operating and developing our portfolio of assets TO CREATE VALUE FOR ALL OUR STOCK HOLDERS". Please. Are you 4king kidding me? Absolutely outrageous IMO. |
Hi Ken,
In this case, if everyone does their job properly, yes I do. Trader465 has presented enough well documented hard facts, (not hearsay) to warrant the investigation through the proper channels. Everything relevant has been presented to AIM.... and I do mean everything.
As TBTT said in his earlier post "you really need an insider to spill the beans." I agree. Perhaps that may be the case here? I hear there is a huge amount of activity at Betts Metals. I wonder why? |
BT1 .. you even think that is remotely possible ? |
But hopefully, IF it can be proved conclusively that there has been any "hanky panky" here, those responsible will be either jailed or forced to compensate the shareholders? |
In other news, Mail have issued an arrest warrant for Mark Bristow, CEO of Barrick Gold (who have mines in Mali). The shakedown of Western miners in Mali is getting more and more intense.
I wonder how much the Mali junta want in "back taxes" from Hummingbird. It's almost certainly more than the mine (Yanfolila) is worth. The Mali military took Resolute for $160m - so I reckon they'll want $50m or so from HUM (HUM mine is much smaller).
How this ends? Kouroussa gets sold for about $50m, Coris pocket the cash. Dugbe goes unsold or gets sold for peanuts, Yanfolila gets nationalised.
Coris lose over $100m. All HUM's suppliers (esp. Corica) lose a huge amount, many go bust. Equity gets nothing. |
trader465 My sources reveal that in the last three weeks there has been quote:- "lots of activity" at the premises you mention, stock taking and now staff training.
I wonder why? |
As I have said numerous times on here, I know people in the UK (especially the Nottingham and Birmingham areas) that know more about this than I do. It's hard for me to do anything from this side of the pond but I know for an absolute FACT that everything of value that appears on here is sent immediately to aimregulation@lseg.com It remains to be seen if they have the balls to follow through. |
In these things you really need an insider to spill the beans.
It's how most of these cases get broken open. |
Meanwhile at Betts private gold business turnover is up 100% in 2 years
2021 - £16.3m
2022 - £22.8m
2023 - £32.6m |
Evidence is the difficult part |
 DRD Gold Limited (DRDGOLD) is a South African gold mining company specializing in the recovery of gold from surface tailings, which are the waste materials left after ore processing. It is a leader in surface gold mining and a recognized player in sustainable mining practices.
Key Details:
1. Foundation: DRD Gold traces its roots back to the 1890s, but as a modern entity, it has evolved through mergers and acquisitions.
2. Operations: It focuses on tailings retreatment projects in South Africa, particularly in the Gauteng province.
3. Sustainability: The company has a reputation for using eco-friendly mining practices and innovative technologies in gold recovery.
4. Listing:
• DRD Gold is listed on the Johannesburg Stock Exchange (JSE) under the ticker DRD.
• It is also listed on the New York Stock Exchange (NYSE) under the ticker DRD.
Trading:
DRD Gold has been trading publicly for several decades. It has been consistently active in the financial markets since the late 20th century, reflecting its operations and evolution in the mining sector. |
Hi Tiger. Thank you. I have since made further enquiries about this here in the US.
The ongoing AIM investigation in the UK may uncover any breach of fiduciary duties and if it does, I would think a law suit to attempt to recover some of the funds will be possible. Betts Metals in Birmingham are closed atm for "staff training." |
I don't think this saga has much longer to run.
Coris have had enough time to complete due diligence already. (It's not as if they don't know HUM well!).
So, I don't think Coris are ready to pay $20m to buy out the shares of the minority shareholders.
Instead, my guess is that they are looking for a buyer for parts of HUM, and they want to keep it as a going concern whilst those negotiations complete. Hence the PUSU extension.
If a buyer fails to emerge this month, then I expect administration in the New Year. Coris have security over the assets, so they'll get a fair proportion of their loans back. It will be really hard on HUM's suppliers. And equity, of course.
BT - I'm not sure you can sue directors for simple incompetence. Breach of fiduciary duties, yes. |
trader465 DRD Gold? Good description but are you sure you have the spelling right? Hummmmm........???????
I can't prove this but I "heard it through the grapevine." I have reason to believe that a disgruntled Hum shareholder is considering filing for damages here alleging "incompetence and mis-management". I'm not a lawyer, but is that possible? If not, why not? I would appreciate any input. |
I'm hopeful of a conclusion either way. I wrote my investment off here years ago but if there is anything to come, the money will go straight into my pick HYSR on here a few months ago which is doing well.
Just for the record, (according to three SEC form 4 insider purchases) on 19th November 2024 the total shares acquired were 260 million. IMO not bad. |
That was exactly the trouble they had with "Gold", the film about Bre-X. The actual true story was so incredible they had to tone it down and leave out some of the more outrageous parts to make it believable.
It's deadline day here, so I'm wondering what news will come after close of play / first thing tomorrow morning. Any road, I'm happy just to be rubbernecking this car crash, and not involved in it.
(BTW, if you're wondering how I know about "Gold", that's my day job!).
UPDATE: PUSU deadline just extended to Jan 3rd. Due diligence not complete. Not necessarily good news, that. |
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