Paragon Diamond Share Discussion Threads

[festario] 17/4/2017 13:22

Nothing against Vince Clubby, he's been conned out of large sums like the rest of us. Unless you know something I don't.

[club sandwich] 17/4/2017 11:19

Letters to Thotanyana and Matekane written and ready to go into the post tomorrow.

I can't think of anything else to do, but if anyone has any suggestions I'm happy to listen.

I think the next Act in this tragedy is when the Loan Note holders (or perhaps that should be 'ex-'Loan Note holders, since I gather they have now been cancelled) realise that they have been duped yet again, and get as angry as I am. When that happens (and I'm pretty sure it's a 'when', not an 'if') they are welcome to get in touch: but not Vince, obviously - he deserves everything he gets.

In the meantime, all we can do is wait, and see if the SFO, the AIM authorities or the Guernsey authorities have the cojons to take up the complaint.

[festario] 14/4/2017 15:41

Seeds are planted now aren't they?Just have to wait for the wheels to start turning.

[club sandwich] 14/4/2017 12:35

Very quiet on here? Everyone given up?I haven't, not yet...

[club sandwich] 12/4/2017 15:18

That's what I'm hoping for...

[superg1] 12/4/2017 13:07

Whats' stage 7 or 8..... PM prosecution ? :-)

Now that would be a nice stage.

[beeks of arabia] 12/4/2017 08:48

Stage 5 - acceptance.

[club sandwich] 29/3/2017 21:41

Thanks for that - a copy of the letter to them too, I think...

[diamond_manduca] 29/3/2017 21:20

hYYp://www.guernseyfiu.gov.gg/article/114219/Fraud
hYYp://guernseyfiu.gov.gg/article/5991/Contact

Guernsey operates independently of the UK regime.
Cross-border financial crime activities are the responsibility of the Guernsey Border Agency which mandates the Financial Investigation Unit to prevent and combat financial and economic crime. The Guernsey Border Agency is required to protect Guernsey’s reputation as a well-regulated offshore finance centre.

[club sandwich] 29/3/2017 19:56

Letter to Marcus Stuttard, Head of AIM, is printed and will go in the post in the morning.

Tmrw evening I think the Minister. If he's considering who to award Lemphane to - and assuming Manduca ever had any chance anyway - it's important he know *exactly* the kind of man he is dealing with...

[club sandwich] 29/3/2017 15:36

I imagine Manduca must be suffering from full-blown paranoia by now, wondering who LNHolder is and which of his dwindling circle of fanatics he can trust.On the other hand, as Kurt Cobain pointed out, "just because you're paranoid, don't mean they're *not* after you..."Oh to be a fly on the wall of whichever private BB the LN diehards are holed up in...

[ilovefrogs] 29/3/2017 13:42

Agree Beeks - banter aside, you can't accuse Clubbie of not putting his money where his mouth is. At the very least, let's hope this really scares the cr@p out of PM. His ineptitude (and potentially criminal behavior) has lost a lot of people some serious money, so he definitely deserves some pay-back!

I look forward to seeing a version of the letter once the cat is truly out of the bag (or the SFO has drowned it in a pond...)

[club sandwich] 29/3/2017 11:30

I have this morning screengrabbed all of the major pages on the Paragon web site. It might be an idea for a few others to do the same if they have time, as it will probably be disappearing soon, now the company is no longer in existence.

This made me smile (ironically) on the Corporate Governance page:

"The Directors recognise the importance of sound corporate governance"

so where are the 2015-2016 accounts, then?

[superg1] 29/3/2017 11:01

Thats' why I think the case is good on this one as PM said far too much in news.

As I said at the time why the name allowed him to waffle on so bullishly defats me and even allowed to mock the city.

look at what he said about ITGT

The Company has replaced ITGT as principal investors, yet ITGT discussions are still ongoing which may see ITGT involved either in the purchase of our production or in second stage financing as we move to full production in 2017.

what a load of tosh that is.

Then Acrux

we look forward to welcoming a significant cornerstone shareholder, which is both a highly respectable and supportive investment group, and importantly is experienced in the mining and business management sectors.


Seriously !!!

The website is still the same.

"Under construction"



But then you will find they are with ATA Capital in the Ata fund 1

ATA RESOURCES FUND I

Ata Resources is a JV between Ata Capital and Acrux Resources. Ata Resources Fund I is an alternative mining finance fund focused on offering innovative financing solutions for junior mining and small to mid-tier production projects in sub-Saharan Africa.


No room for error here

Ata Resources is a JV between Ata Capital and Acrux Resources (www.acruxresources.co.za)

The fund is $100 mill the website has never got active. There is no evidence to suggest they are in anything right now.

PM said they are "A LEADING DIAMOND INVESTOR"

They don't seem to have any money in diamonds at all or anything else.

I've checked the small print and it says nothing about being allowed to simply make things up and lie.



"The term sheet is for a US$15 million combined convertible debt and revenue
sharing facility which introduces a leading diamond investor as a shareholder."

I know folk bought more on the back of that. Why not with such a positive statement from a lead in the sector backing them.

I did point out that claim as a pile of junk at the time.

Alarm bells should have gone off but PM and co worked overtime to laugh off what the naysayers were pointing out. They did a damn good job as many stayed in and bought more on the back of it.

[club sandwich] 29/3/2017 10:40

...and I think the real smoking gun is those interviews Manduca gave: even if he relies on the Nomad having signed off the RNSs to shirk responsibility for them, nobody made him give those interviews: it was driven by ego and a desire to boost the company. And then to claim - as he did on the PDLN board - that "Paragon is not me" shows quite stunning duplicity and lack of good faith.

Anyway, the (first) letter has gone now. Let's see what happens, if anything.

[club sandwich] 29/3/2017 10:37

Well the letter is pretty closely-argued. And even allowing for small-print in RNSs etc, there are plenty of other things Manduca is guilty of: failing to file company accounts for 2015-16, breach of stock market regs relating to shareholder comms, breach of Guersney rules relating to the responsibility of company directors; and more than a few others.

Don't forget: Al Capone was eventually jailed for tax evasion, not being a racketeer/gangster...

[beeks of arabia] 29/3/2017 10:12

Super - The problem is this type of thing is proving a fraud. Same on EKT where it all has turned personal and imo will go nowhere.Whilst my early comments on here were to urge caution in throwing money at a legal case, many (if not most) holders went on to give more money showing that advice was largely ignored!Incompetence, over confidence, under qualified, mislead by others, market conditions, small print in RNSs. These can all be used in most of these cases to avoid criminal charges. Sad but true.Best of luck anyway Club. As Sanka says to Junior in Cool Runnings - "This doesn't mean that I like you". ;)

[superg1] 29/3/2017 10:05

Beeks

He has done a damn good job on it too.

If it comes to nothing so be it, but I find it hard to believe that what PM has done or had failed to do doesn't breach rules and laws, be it accounts, company or criminal law related.

If he isn't and the complete shambles and deceit is allowable, then what is the point of the FCA, the regulations the AIM and the nomads etc etc.


I see you have been following EKT too and the court games there against that pillock of a CEO.

[club sandwich] 28/3/2017 21:35

I would urge other shareholders to also write to Jane de Lozey, Joint Head Fraud, at the SFO. The more letters she gets, the more likely it is she'll take action.

[beeks of arabia] 28/3/2017 21:14

Best of luck Clubby.Whilst you come across as a bit of a tool, no one can deny you post honestly and at least are taking action.

[club sandwich] 28/3/2017 21:08

The letter to the SFO is printed and has gone into the post. It takes a while to print the 21-page letter plus another 10 pages of Appendices - I'll probably do one a night. Tomorrow evening the Head of AIM, the utterly useless Marcus Stuttard (but maybe he'll be stung into action by being CC'd into a letter to the SFO)...

[lnholder] 28/3/2017 19:26

CS
I hope to be in touch soon with more news. It will come from a new email address.

I wouldn't hold up on that SFO letter and supporting documents. If they open a case you can add to the evidence at any time. There is a great deal of evidence already.