Paragon Diamond Share Discussion Threads

[lnholder] 28/3/2017 19:17

You have to wonder if those funding documents were real or falsified.
There's another word for this type of activity, if found to be falsified.

The Central Bank of Lesotho was not convinced by the documents for some reason.

[club sandwich] 28/3/2017 19:14

LNholder - if you want to see the final draft drop me a mail...

[club sandwich] 28/3/2017 19:07

LNholder - are you just quoting my letter? ;-)

[lnholder] 28/3/2017 19:07

“We have realised Paragon is even selling some of the machinery at the mining site. This further called our attention to do something about the company. We expected them to use the machinery to develop the mine,”

Selling machinery? Not to pay the rent though.

“Paragon has actually breached its contract with the Government of Lesotho by failing to develop Lemphane Mine since the awarding of the tender 22 months ago. I can tell you they have done zero; absolutely nothing in line with the contract of developing the mine,” Mr Thotanyana told the Lesotho Times this week.

The directors of PRG had no answer to the mining ministers assertions. Zero. Absolutely nothing.

The Lesotho Times news item gets worse with each reading.

So who would you believe?

[club sandwich] 28/3/2017 19:06

Of course - and that little nugget takes pride of place in the letter.I also quote extensively from correspondence with Vince and Barry's circulars...

[lnholder] 28/3/2017 18:54

“We approved Paragon’s takeover from Lucara in August 2015, but it seemed we had opened a can of worms when we requested the company to provide proof of its finances within 30 days. This was after Paragon claimed to have secured US$70 million to operate Mothae. They brought documents here which suggested that they had secured the funding from Trade 4 Business Finances. We then asked the Central Bank of Lesotho to verify this, but the bank could not approve this.”

Secured funding from a company that had only filed 'dormant company accounts'.
Trade Finance 4 Business Limited. They never had any capital in the company. Ever.

More lies?

[superg1] 28/3/2017 15:21

Oh no not me! The chuckle brothers may turn up

[club sandwich] 28/3/2017 14:36

Fest, super, thanks for the kind comments. I'll send you both final drafts - just, you know, in case I have some kind of accident before the weekend...

[club sandwich] 28/3/2017 13:34

"Two options for PRG folk do nothing or do something."

exactly, and I choose to do *something*. Of course it may have no effect - the SFO may choose to ignore my letter, or they may investigate and decide there is not enough evidence to support a prosecution.

but the effort to write the letter is now made, so let's see if it can have an effect.

[ileeman] 28/3/2017 13:20

frogs

He put some cash up and took risk (doubt its his cash) but also got very cheap shares in the process.

Clearly he mislead/lied to shareholders on numerous occasions that is fraudulent?

[superg1] 28/3/2017 13:15

ilovefrogs

The only significant investment seems to be Titanium capital investments limited. What's to say that's not backed by debt or loans. It's never been declared where Titanium got their money from.

If a bunch of folk that threw a few quid in then perhaps the rescue attempt was driven by that with those backers refusing to throw in more cash.

It has evaded my attention the in both loan cases the names used for those companies were similar to Titanium capital PTE limited.

Then with ITGT it made it sound like the International triangle group.

We now know Titanium is PM and co and ITGT that guy who registered the company in Florida.





v

[ilovefrogs] 28/3/2017 12:51

Ileeman - a conman who put a significant amount of his own assets into the failed venture. Not saying he wasn't negligent, incapable, or misguided, but why don't we let the courts decide (if it gets that far) if he acted criminally?

[superg1] 28/3/2017 12:30

The sure fire way to achieve nothing is do nothing.

If the LN lot are all that way inclined can you each send me £5k and I'll pay you back some time, thanks.

I speak from the point of view of folk telling me I was wasting my time on certain 'plans', to the extent of exactly what you do to CS here mocking him, and the effort I put in defeated the claimed impossible and on many occasions.

As a lone challenger if he succeeds then any compensation pot is available for him alone.

If it's investigated as a crime it costs him nothing with everything to gain be it satisfaction of a suggested crook dealt with or that and all or part of his money back.

Does PM have the funds that a claim for compensation could be made against, I suggest so.

Would PM want to risk an investigation, I suggest not.

The advantage of civil is the balance of probabilities and often out of court settlements to avoid full liability to others, but then it has the legal cost issue.

[ileeman] 28/3/2017 11:48

ilovefrogs I don't think a conman should walk away scot free but that being said I do think club is wasting his time but wtfdik.

[ilovefrogs] 28/3/2017 11:45

'Do nothing' could be expanded to: Don't waste your time obsessing about revenge and posting 3 million times a day on a bulletin board about a single stock, in a hopeless cause that will never get you any money back, but instead learn from your mistake, and spend your time selecting, building and monitoring the rest of your portfolio, which in time, if done correctly, makes you far more money than you ever lost in that one stock.

Might seem crazy and harebrained, but that's what's I did....... Each to his own I suppose.

[superg1] 28/3/2017 11:30

I agree Fest he has done well there.

Two options for PRG folk do nothing or do something.

[festario] 28/3/2017 11:10

Get them sent Clubbie lad.They can't ignore that dossier.

[ileeman] 28/3/2017 10:09

Isnt Manduca saying the same thing to LNH....

"funding discussion will be concluded successfully in the near future"

[ileeman] 28/3/2017 09:43

Manduca haha *facepalm*

"The Directors are of the opinion that the value of investors’ share holdings will not be materially affected by the event of a delisting. The Company retains the same prospects and remain highly confident that the funding discussion will be concluded successfully in the near future"

[diamond_manduca] 27/3/2017 21:22

Struck Off.

27/03/17 Paragon Diamonds Limited 51819 Struck off on: 27/03/2017

Scroll down to bottom of page:
hXXp://www.guernseyregistry.com/article/157588/Ineffective-Registered-Office---2017

[club sandwich] 26/3/2017 19:38

emails to one of my contacts have started bouncing. they were using a Yahoo address - if this is you, could you get in touch on another email address?

[superg1] 26/3/2017 17:24

Good point Pug on the CPHT but it was never about running a mine, it was about getting backing for the Mothae licence to get the share price up for that bargain convertible note.

[pugugly] 26/3/2017 14:09

Pilot reports were according to my mining expert far too low at 2ctph and persuaded me to get out (and advised many years ago on this thread) - which I did. Have only been following for interest - as Mark Twain said about mines. Whether Manduca was ignorant of basic minerology - unlucky - just plain over optimestic or a Robert Maxwell only time may tell but whatever - this dog is well and truely dead. I suspect the only people who may make money now are (if it proceeds any further) are the legal profession. Over out and probably my last post.