Paragon Diamond Share Discussion Threads

[festario] 23/3/2017 08:26

CS, you know someone in the PDLN group then?

[club sandwich] 23/3/2017 08:21

And Super - yes, that's really what he posted - about 2 weeks ago, I believe...

[club sandwich] 23/3/2017 08:21

Frogs - that's your cunning, try and throw me off the scent...

[ilovefrogs] 23/3/2017 08:12

Yes, I'm PM, well done CS. You correctly guessed that my likening PM to a 401 scam was just a clever ploy to suck you all in. You're too clever for me. You should (pretend to) filter me immediately!

[superg1] 23/3/2017 08:10

I'll come back on that one CS Is that seriously what PM posted. It seems so naive and ridiculous it's hard to believe

It's completely clear then that the whole game was about looking after himself re Titanium.

So that's why he did the loan note deal and made it convertible. It was never about shareholders in PRG it was about Manduca lying to deceive investors and lying to the Lesotho mining ministry to try and secure the Mothae mine.

If that's what being posted I am stunned by how loan note holders can be so stupid to not understand what he did at PRG and his incentives.

I will come back later with some facts about what he did to avoid dilution but removing the death finance and then trying to enrich his family set up but significant dilution getting shares at 1.375p each.

He makes my blood boil and I don't have any shares.

I did say at the time if he expects folk to remain silent in the inner circle he's deluded.

There are 6 others in the Lemphane process.

[loverat] 23/3/2017 07:08

Good film. You can see that type of mentality in many walks of life.

AIM directors, Action Group Co-ordinators, Labour Party, The Clintons, Blair President Erdogan and various organisations and companies. It starts off as group think (an example being Blair and the Iraq War) and gradually the supporters dwindle away.

But all these people had supporters and loyalty at one stage - just their policies and methods were all discredited and the leader becoming increasingly erratic.

On the face of it Donald Trump seems to be going the same way and very quickly. But I think that is as much about the US establishment out to remove him from office.

[club sandwich] 23/3/2017 06:59

"tells me that our approach on paper is the best"

you should do it by txt Phil - that worked *so* well in the past, right?

[club sandwich] 23/3/2017 06:44

Has anyone seen the film Downfall? I imagine that's what it must be like right now at Manduca Towers in Virginia Waters; Manduca bunkered down with his last few remaining loyal generals (metaphorically, of course), moving fantasy funding around a map of Africa, ranting how everyone has let him down...

[club sandwich] 23/3/2017 06:29

also a nice admission there that Paragon couldn't 'perform' on Lemphane and Mothae - again, in direct contradiction to what he was telling shareholders at the time...

[club sandwich] 23/3/2017 06:25

Fest, Super: if you've not had a chance to read the PDLN you should, there are some real gems on there.

Like this, by Manduca - not sure of the date on this, but I think it was recent:

"We are now in direct correspondence with the Commissioner re Lemphane. Quite logically, he is trying to ascertain how he can justify awarding the license for Lemphane to "me" if Paragon couldn't perform on the license when they had a couple of years to do so, nor could Paragon perform on Mothae when it had a year to do so.

I have explained in detail that Titanium is not Paragon, that Titanium only owned approximately 29% of Paragon and would not fund 100% of the necessary funding requirement on behalf of all other shareholders including their own local businessman, Mr. Matekane. I further explained that it is now Titanium bidding for the license in its own name and that my family office owns 100% of Titanium; that I served as Chairman of Paragon to supervise Titanium's investment and that Paragon is not "me".

This corporate distinction gives us a chance of re-obtaining the license, and the fact that he is engaged with us tells me that our approach on paper is the best. Should Titanium win the license, I have made a commitment to PDLN's that we will ensure that Paragon is re-instated as the beneficiary of the license."

Savour that moment: 'Paragon is not "me"'. Well that's certainly not the impression he was giving in interview after interview with Proactive Investors!!!!!

[club sandwich] 23/3/2017 06:11

It is shocking to think that in the Proactive Investor interview of Aug 2014 Manduca was talking about his 3-year plan for Paragon - and a mere 15 months later, only a year and a quarter, it was suspended as a result of his lies and utter incompetence. Quite, quite, astonishing...

[club sandwich] 22/3/2017 22:36

Yes, that's from the PDLN...

[superg1] 22/3/2017 22:27

Inholder

Are you quoting him from the private site?

If so it seems he has been caught red-handed lying then.

Martin moved on. Seemed like a nice guy I met him. Simon moved on.

It's a complete and utter farce.

[club sandwich] 22/3/2017 22:17

I hear the food in prison has got much better these days...

[club sandwich] 22/3/2017 22:16

You missed the bit about cutting out the 13% shareholder who never paid for his stake - Martin Matekane. I'm sure he's going to be fascinated by the full, unexpurgated version when I send him a copy of the letter with the quote in it...It's quite amazing what some people say when they think they're in private, unobserved by 'negative' parties...

[lnholder] 22/3/2017 22:08

'kills off negative/damaging shareholders, frees up a lot of new equity for directors such as Simon Retter, Martin Doyle and Stephen Grimmer who have been through hell in the last two years but remained completely committed and loyal to our future potential without any remuneration whatsoever.' Philip Manduca, March 14 2017

[club sandwich] 22/3/2017 22:08

"A top class chief executive. Philip identifies the wider opportunity; he ensures the chosen management team is the best possible and then finances it all the way through to successful attainment of the business goals. Philip is very detailed and motivational, a superb business partner, always focusing us on how to be both successful and profitable. He identifies the mistakes very early on, saving time and making the business so efficiently managed."Who gave that reco - was it Mr M Mouse, Mr D Duck or Mr S Claus?

[superg1] 22/3/2017 21:40

Cs

It could have been fat fingers of course to accidentally go onto Linkedin, log in, go into his account profile, select employment status and accidentally put in some relevant dates to show he is no longer there.

Happens all the time.


:-) :-)