Paragon Diamond Share Discussion Threads

[festario] 20/5/2017 00:29

Good God! Manduca's CV knows no bounds... it's a shame that his business acumen knows no BEGINNING.if only I'd seen these amazing credentials before sticking my paltry £46k into PRG. The man is an investment God! If I'd known, I'd have have sold the other 90% of my porty, and followed him and his infinite greatness,... into oblivion.I'd have been living in a cardboard box in a shop doorway now.I'd no idea he'd gone from nothing, to being a sporting guru, to being a mining magnate, back to... NOTHING.The man is a ZERO.He thinks he's clever, and yes he's 'mugged off' a few AIM punters. He even managed to rip off some of them off a 2nd time, 'buy some of my juicy loan notes, I'll make my disciples rich'I'm genuinely sorry for them, some nice but naive people shafted there.From what I know, he's badly miscalculated this last episode.Some people with the tenacity, the means, the expertise and the grudge are coming after him.

[club sandwich] 19/5/2017 19:17

In 2012 - before he became a gold guru, then a diamond guru - he was a sports agent!

01/2012 - Present
Chief Executive Officer - Titanium Sports Group Ltd
Bespoke financial and commercial management of the top international sports players, focused only on those in the world's top 30 or with the potential to reach the world's top 30 in their chosen sport.

hxxps://www.yatedo.com/p/Philip+Falzon+Sant+Manduca/normal/5b2b4507994b7db82b9d2bb20c0f1a86

[club sandwich] 19/5/2017 19:14

His brother is a Baron! wonder how he feels about having a fraud in the family?

hxxp://users.waldonet.net.mt/fournier/falzon_sant_manduca.htm

[club sandwich] 19/5/2017 19:12

And this is the root of the fraud:

hxxp://www.morningstar.co.uk/uk/news/AN_1416484920828743600/AllianceNewsPrint.aspx

"LONDON (Alliance News) - Paragon Diamonds Ltd said Thursday that Titanium Capital Investments Ltd has exercised its call option over 60 million shares in the African diamond development and production company at a price of 3.25 pence per share.

In August, Obtala Resources PLC, an agri-processing, farming and timber company, said it had entered into an agreement to sell its GBP2.0 million loan notes held in fellow AIM stock Paragon Diamonds to Titanium Capital Investments for GBP998,000. At the time, it also agreed to grant a call option for 60 million of its Paragon Diamonds shares."

"I believe Paragon remains significantly undervalued as a company and I expect an increasing number of global investors to come to the same conclusion as me shortly, as the good news at Paragon is anticipated to continue in the near future as we advance Lemphane towards Stage 1 production in the first quarter of 2015."

[club sandwich] 19/5/2017 19:04

hxxps://companycheck.co.uk/director/912656439/MR-PHILIP-FALZON-SANT-MANDUCA/summary

Resigned directorships: 4
Closed directorships: 12

That's a lot of directorships, and doesn't match the activity described on his LinkedIn profile...

From ShareProphets, dated 21st Nov 2015

hxxp://www.shareprophets.com/views/16703/paragon-diamonds-suspension-update-anyone-got-50p-for-the-meter

"Oh dear. Oh dearie, dearie me. AIM-listed, but suspended pending clarification, Paragon Diamonds (PRG) has released an update on its financial position. It reads very badly, and rather suggests that a previous RNS was, ahem, not wholly aligned with the truth. But the financial position of the company looks terrible. Will Paragon soon be a gonner?"

even they think the RNS of 2nd October was a blatant lie...

"My cynicism was compounded by a number of statements from colourful Exec Chairman, Mr Philip Falzon Sant Manduca, who appeared to be telling the market how to do its job of valuing the company, and that he was off to tell the Lesotho Minister of Mines how to do his."

"Wind back to 28 Jan 2015 and we have another RNS announcing a funding package – a $12 million equity and debt facility under a binding MoU. Has any of that cash arrived?

And on 2 October we had another finance arrangement announced – a $15 million debt and revenue sharing facility. Has any of that cash arrived?

Perhaps Paragon’s Nomad, Northland Capital Partners Ltd, would care to find out? Has any of the promised $53 million actually arrived yet? If not, why not?"

"Whilst they are at it, perhaps Northland would like to explain what happened to the promised share buy-back? Of course, I thought at the time that the promise of a share buy-back was tosh. But we are five months on, and no buy-back. And, it seems, no cash either. Has the market been kept fully up to date, ahead of its suspension pending financial clarification on 16 November? Investors might be forgiven for thinking that Paragon was awash with cash, and might have bought in on the basis that all the funding required to reach profitability was in place."

"And that brings me to the statement that:

the Company still has limited working capital and there remains a material uncertainty regarding the Company's financial position. The Company's shares will therefore remain suspended pending clarification of financial position.

In other words even without the need to repay the $500,000 facility which is now up to $638,750 the company is having a spot of bother keeping the lights on. Quite an achievement for a company with $53 million of funding announced. Anyone got 50p for the meter?

It all makes the RNS back on 12 Dec 2014, which announced that the company had just forked out £1.89 million on a share buy-back seem a tad reckless, does it not?

Perhaps Duck and Dive was right: next up a placing in order to pay a dividend….and to keep the lights on.

Paragon might have shown a bit of promise, but as with Big Dave Lenigas it seems that once again we have a company where the head honcho is all mouth and no trousers. Is there a law of inverse proportionality between levels of outspokenness and share price performance?"

Tragic reading for all those who have lost so much as a result of this fraud. I would kick myself for not being more careful but I don't need to - my wife is doing it for me...

'the head honcho is all mouth and no trousers' - what reputation, exactly, does Manduca have left to defend?

[beeks of arabia] 19/5/2017 18:54

Some good posts there Clubby. You sound like a cross between Lionel Hutz and Monk.

[club sandwich] 19/5/2017 18:41

He graduated from Bristol University in 1979, but the first entry on his LI profile is as Managing Partner of Titanium in 2002. Where is the track record of being a successful 'businessman' during those 23 years? What was he doing? Telesales? Brick-laying? Door-to-door Bible peddler?

I wish I had the money to hire a PI and get them to do some digging - bet they'd unearth some really interesting stuff...

[festario] 19/5/2017 18:37

Well, well, well.... 'Dr' Manduca now is it?I wonder how hard the 'good doctor' tried to resuscitate the corpse of PRG? Not at all I'll wager, not for an instant.Because there never was a chance for it, it never was going to be a viable mining company, just a sham whereby certain individuals could inflate a share price, cash in on a spreadbet and move on to the next bunch of gullible AIM punters.My big regret is that when I could find no plausible history on Manduca the businessman, I still left my hard earned in PRG, because I 'hoped' it wasn't a scam. Although I knew it probably was because so many are on the AIM casino.

[club sandwich] 19/5/2017 17:23

and since when was Manduca a Dr? I've just re-checked his LI profile - nothing about a doctorate that I can see. They sound like a right pair of fantasist con-artists.

Oh I hope this gets to court one day - Manduca would be utterly *destroyed* on the witness stand. By the time cross-examination had finished a dying leper wouldn't want to know him...

[superg1] 19/5/2017 16:28

Lol

Just had a look re the name

I'm not reading it in detail but it looks like tried to make out she was born in Malta to get a Malta passport. She had already stated she was born in Thailand.



target='window'>https://translate.google.co.uk/translate?hl=en&sl=mt&u=

[club sandwich] 19/5/2017 00:26

and there's plenty, plenty more info on Manduca where that came from...

[club sandwich] 19/5/2017 00:01

It looks like she changed her name in June of last year:

Name change in Malta

Sworn No: 1023/2015 / LSO.
1
28 June 2016.
CIVIL COURT
FIRST HALL
judge
HON. LORRAINE SCHEMBRI ORLAND
LL.D., M.Jur. (Eur.Law), Dip.Trib.Eccles.Melit.
Sitting on Thursday, 28 June 2016
Cause Number: 14
Sworn Application number: 1023/2015 / LSO
Dr Philip Manduca as
mandatory
of
Malin
Kingchatchavarn sive Orarin
Falzon Sant Manduc

To lose association with the Manduca name so people would think she wasn't connected to him when she popped up as a director of his new company? That seems to me the most likely explanation. The new company was incorporated on 16th June 2016, she changed her name on the 28th June. Coincidence?

And look at his LinkedIn profile:

hxxps://www.linkedin.com/in/philip-falzon-sant-manduca-53180132/

It says (and I've screengrabbed it and time-stamped it in case he changes it) that his association with Paragon ended in Jan 2016: so at a time when he was still claiming to be busting his balls to raise funding for Paragon - and *before* even the first of the shareholders' meetings where he laid the ground for chiselling more money out of the gullible fool LNHs - he had already, according to his LI profile, moved on.

And we're supposed to believe this guy *ever* acted in good faith about anything?

Wonder how all this will play in court...

[festario] 18/5/2017 23:17

Tell us more about Manduca's 'new company'... and where he actually lives.He will be made to pay for the year I lost, and the £46k I consider he defrauded me of.

[club sandwich] 18/5/2017 20:44

...and if anyone fancies taking a drive and asking Manduca to his face why s'holders have lost everything despite all his bullish predictions, and why there was no warning of coming suspension despite him predicting on Oct 2nd 2015 that mining would commence Q1 2016 (the company was suspended SIX WEEKS later), there's an address for his wife (EIAMAMORNPAN, Orarintr) on this page:

hxxp://companydb.uk/10236703-neuroced-limited#.WR34t1PyvR0

or write him a letter - I'm sure he'd love to hear from you.

For anyone that doesn't know, that's Manduca's new company - the s'holders are his wife and Titanium...

[steviegersh] 18/5/2017 16:57

Just heard from my broker. PRG. has been dissolved and the shares are now worthless.
No surprise really.

[club sandwich] 16/5/2017 21:19

Well it's progress, but we're still a long way from holding Manduca to account and/or trying to recover our money. But I shan't stop - I will go on to the end, until all potential remedies are exhausted or Manduca is behind bars where he belongs and/or Northland sued.

I gather he is still claiming everything was above board: but he *would* say that, wouldn't he? There's never been a convicted fraudster yet who didn't proclaim their innocence until a court of law decided otherwise. And he claims that ultimate responsibility for the RNSs lies with Northland, as they signed them off: that may or may not be true, but nobody made him give those arrogant, self-satisfied, preening interviews with Proactive Investor (all still on YouTube, although I have also downloaded them just in case they should disappear; and remotely backed them up, just in case): those interviews, and the very clear representations they contain, are entirely on him, and I'll make him pay for them, if I possibly can...

[marcin1976] 16/5/2017 18:49

Thanks Ian. That is the best news regarding PRG since November 2015. Cheers!

[festario] 16/5/2017 18:27

Nice one Clubbie.Sounds to like you really can't get away with flagrant mismanagement of AIM companies any more.We are entering a most interesting phase it would seem.

[club sandwich] 16/5/2017 14:00

Have now heard back from the SFO. After reading my 20-page letter and supporting documentation they agree that the matter warrants 'further investigation'. They have passed it to one of their investigators to do some more digging - but warn that, because of workload, a decision on whether to proceed could take 'some months'. So next year, then.

Still, it's a start. Yet to hear from the AIM authorities or the Guernsey regulators.