Paragon Diamond Share Discussion Threads

[club sandwich] 27/8/2017 22:24

Super - well being one of the first cases is both a blessing and a curse: we get in before 'the herd' arrive and start bankrupting Nomads - but on the other hand we get to make all the mistakes others then learn from!Let's see what happens. I'd expect to know in the next month or two - latest - whether the lawyers will take and fund the case...

[club sandwich] 27/8/2017 21:33

"So will they want their fair share of the loss, having been stiffed by PM. They would be nice folk to have on board with their connections."

I believe moves are afoot to officially contact them and invite them to join...

[superg1] 27/8/2017 21:31

CS

The impression I get is that this is not a run at some PIs appearing but a sniff of an opportunity to do this many times over on the AIM and others.

Purely business and a business with backing. If some success is seen I suspect it will start to expand. African Potash and PRG are the testing ground.

Quite simple someone somewhere has come up with those idea and lucky for PRG holders they are at the front of the test queue so you can be sure all that can be done to get this through will be done. So if there is failure it won't be for the lack of trying.

Like you I think it would finish Northland if there was success.

[superg1] 27/8/2017 21:27

You forget one screwed major shareholder who is very well respected in Lesotho.

I imagine he is not too impressed with his losses and the lost mine Lemphane.

If you go back far enough you'll see it's not one name but a few from the same family.

So will they want their fair share of the loss, having been stiffed by PM. They would be nice folk to have on board with their connections.

[club sandwich] 26/8/2017 18:00

Oh dear, he's not still perpetuating the lie that in some way I was responsible for Paragon's demise, is he?

Sadly, the facts - as you point out, Fest - are that I only started writing letters AFTER Paragon's suspension and the resignation of the Nomad: or am I in some way responsible for that too?

There's only one person to blame for Paragon's demise, and that's Manduca. If he's straight and above board - as presumably Lama_brain would maintain - where are the updates to the web site we were promised in the suspension RNS, to let ALL s'holders know what has happened to their investments? There have only ever been TWO updates, both relating to the s'holder meetings (or 'grooming exercises', as I prefer to think of them) for the meetings in Walsall and Luton. And why did he change his LI profile (since changed again) to show involvement with Paragon ending in Jan 2016? And why did he appear at Mines and Money billed as being from Titanium, not Paragon? And where's the $100m he's been promising LNHs for the past year?

Lama_brain can believe what he wants - but ALL the facts are against him.

[festario] 26/8/2017 17:52

Lama Rail, (or should I say Philip), .. CS has you filtered, but let me put the FACTS straight, regarding the utter lies you just posted.

You see, CS warned, and warned multiple times that he would write to the Lesotho Mining Minister, also Martin Matakene IF Paragon didn't come up with some kind of hope for its beleaguered shareholders.
Nothing was ever forthcoming, and CS followed through with his threat, AFTER PRG had been suspended.

So you see, CS had nothing to do with the company's failure.
Manduca, (You?), brought it about all by yourself by your sheer incompetence and lack of ability.
That's if there ever was a 'company' as such.
The more I reflect on this, the more convinced I become that no serious attempt to create an actual mining company was ever likely. It is possible that Paragon was simply a smokescreen, a facade which existed merely to pay the Directors a salary, and to facilitate a spread betting attempt which could have possibly made certain individuals rich.

He, (you?) was simply not clever enough to pull it off.

I invested in what I thought was a company who were about to start mining for diamonds, within the next 3 months, (it kept being said). In hindsight that was never, ever a possibility.

[lama_rail] 26/8/2017 12:30

I recall that Bryan was trying to get you on-side back then. That was back when you were intent on destroying any last hope that PRG had of recovery by writing to anyone and everyone associated with PRG telling them not to deal with PRG. I can't figure why a shareholder would do that but nonetheless that is what you were doing.

I recall that Bryan tried to get you to back PRG by becoming a LNH and you turned him down on several occasions.

He may be wrong in backing PM and time will tell but at least he was proactive and tried to help everyone.

[club sandwich] 26/8/2017 09:57

BTW, evidence for the proposition that Manduca is delusional might be this, from an email from Bryan on 20th June last year (back when we were chummy and chatted by email regularly), about that Lesotho Times article:

"Oh that article. I've read that one before. For some strange reason, and I can't fathom why, PM said that he'd orchestrated that article. He said that at the shareholder meeting but he went on about other things and sadly none of us asked him to explain the comment."

Once again, this is the article:

hxxp://www.lestimes.com/ultimatum-for-diamond-mine/

Why in God's name would you 'orchestrate' an article which puts you in such an appalling light?

Here are a few choice quotes:

'But according to Mining Minister Lebohang Thotanyana, Paragon was given 24 months ending March 2016, to develop Lemphane but appeared to lack the capacity hence the ultimatum.
“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.'

'“On several occasions in the past, Paragon has claimed to have secured funds, but failed to transfer the money into Lesotho to start operations. We have since issued them with a notification letter to say if they cannot provide proof of funds by transferring at least US$12 million in 10 working days beginning today (Monday), we will be left with no choice but issue a notice to revoke the rights,” Mr Thotanyana said.'

'“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,” he said.
Meanwhile, the Lesotho Times has further established that the government last week turned down Paragon’s proposal for the acquisition of Mothae Mine. The offer came after Lucara Diamond Corporation ceded the rights to the mine back to Government last month.
Paragon’s idea, the Lesotho Times learnt, was to use Mothae to raise capital.
However, Mr Thotanyana said the government turned down Paragon’s proposal due to the previous fallout over Lemphane.
“We are talking about the same company which has let us down at Lemphane. How do you expect us to give the rights of Mothae to a company which has already failed us on the other mine it already has exclusive rights to?'

'“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.”'

and all that is what he *orchestrated*? I'd hate to see what he puts together when he's trying to be seen in a negative light...

Maybe Bryan just got the wrong end of the stick: or maybe, as I suspect, Manduca has Trump syndrome - a compulsive liar, who says whatever sounds good in a given situation without any regard whatsoever for the truth or reality.

To the best of my knowledge, no shareholder has *ever* been able to find *any* trace *whatsoever* of a company or organisation called 'Trade 4 Business Finances'.

[club sandwich] 26/8/2017 06:53

"Knowing that at least some of the LNHs are still communicating with the group while offering evidence for the CA fills me with glee."

That's your view, not mine: I have no idea what relationship those LNHs who have joined the CA are keeping with Manduca's group, if any.

"PM thinks he's angry at what's going on with the CA and his dwindling support from the LN group."

well really, what did he expect? Did he think he could go on forever making empty promises, delivering nothing, and everyone would just endlessly suck it up?

Never forget: we're here precisely because of Manduca's total failure to deliver when PRG was listed. Despite a series of extremely bullish RNSs and interviews throughout 2015 telling s'holders that funding had been raised and mining would start Q1 2016 latest, the company was suspended without warning, then the Nomad resigned, the company was delisted and then this March was struck off. Anyone who thinks that all s'holders are going to continue trusting them after that lot is either an egomaniac, delusional or very VERY stupid.

"pliable oddballs"

again - you may think that, I couldn't possibly comment.

[club sandwich] 25/8/2017 21:06

ExtraTopping:

"You may not actually see the support on here, CS & Super, but trust me we are watching closely and wish you success. "

don't wish us success - come and be a part of it! The CA represents your best - probably your only - chance at recovering any money.

"Bryan is pathetic, we all agree."

you may think that, I could not possibly comment.

While we're on the subject: Bryan floated the idea in his emails of last Sunday week (the ones that are currently with my lawyers) that LNH could wait to see whether we were successful with our CA and, if we were, follow on with a second action. I'm not suggesting this is impossible, but I would make the following observations:

1/ as I understand it, for the economics of a no-win, no-fee case to work, you need £1m+ in s'holder losses (we are currently in excess of £1.2m, last I heard, and that number is increasing almost daily). so if all the biggest shareholders go with a first CA (and we hope to attract most of them), you may not be able to find enough in losses to make the maths work (the 'quantum', apparently, is the phrase used) for a second CA; and

2/ If a first CA is successful we'll clean out the Nomad, if not bankrupt them outright. logic therefore suggests that any payout on a second or subsequent CA would be significantly less than any payout on a first (assuming of course that we are successful at all).

The facts before us are quite simple and straightforward. A nascent CA is here, before us now. The case will soon be put to the law firm's funding committee to see whether it meets their criteria to fund on a no-win, no-fee basis in return for roughly 30% of any settlement or court award. If they judge that it meets those criteria - the law firm having already decided there is a prima facie case to answer (otherwise they wouldn't bother taking it to the committee at all) - then the CA will proceed. There are no guarantees - but if a large, established, experienced law firm is willing to take the case and fund it (IF they do) then they must think there is a better-than-evens chance of success.

What better chance of getting some of your money back do you think you're going to get?

In the immortal words of that renowned stock pundit Tracy Chapman: if now now, when?

And BTW - PRG was suspended in *November* 2015, not October (Nov 16th). October is when the final, highly fraudulent (in my opinion) last RNS and interview were released (2nd October, to be exact)...

And once again: Bryan asked for more information about the CA on 1st August (and to be super-clear once more: he did *not* ask to join, he asked for more information - draw your own conclusions). I made it crystal clear to him by text that there was no way he'd be allowed in: I suggest you bear those facts in mind when considering his subsequent communications.

[lama_rail] 25/8/2017 20:49

Whoever said PM was angry at the Class Action? I know for a fact that he couldn't give a monkey's. Why would he ever be bothered by a CA against the nomad? Doesn't make sense at all but of course very little on here does.

'Bryan is pathetic, we all agree'. I don't think he'll lose any sleep over a few nobodies calling him pathetic. Why don't you come out of the shadows and let everyone know who you are? Oh wait, of course, you're all pathetic weak people who hide behind user names and lurk in the shadows. Now who are the pathetic ones?

[extratopping] 25/8/2017 18:51

A few members of my share club who also owned PRG shares are watching this board with great interest, as are some other investor friends. You may not actually see the support on here, CS & Super, but trust me we are watching closely and wish you success. Some of my share club members are converts, initially hoping PM would deliver but now see him for what he is, while others haven't trusted him since Oct 2015. What a month that was. All are against PM now and despise some of the LN group who they see as very weak individuals and some are just plain ugly individuals. Bryan is pathetic, we all agree.

PM thinks he's angry at what's going on with the CA and his dwindling support from the LN group. He didn't calculate the anger of a few hundred shafted shareholders that he vowed to look after yet couldn't wait to cut them off. PM divided a large group and ended up with a handful of pliable oddballs. The smart ones have come to their senses.

Knowing that at least some of the LNHs are still communicating with the group while offering evidence for the CA fills me with glee.

Several other investors that I know are considering supporting the CA.

Happy Holidays

[club sandwich] 25/8/2017 13:25

Don't believe so. In any case it wasn't him who turned up - we've never met, but I know what he looks like.

[extratopping] 25/8/2017 13:08

CS
Wasn't it Bryan who threatened to pay you a visit?

[club sandwich] 25/8/2017 13:05

Ah yes, of course, my mistake ;-)

[festario] 25/8/2017 12:58

Clubbie.... it was SuperG's point.... but I'm 100% in agreement with you on that.Shivering scumbags the pair of them.

[superg1] 25/8/2017 12:08

Without you CS it would never have got going.

Do you recall those posts about "One day they will be asking you for help"

Strange how things turn out perhaps even the home visit guys are on the list. :-)

I bet they regret that now having gone through it all over again with their mate Phil.

[club sandwich] 25/8/2017 07:00

The fun has only just started, Fest...

[festario] 25/8/2017 06:51

It's good 'ere innit?

[superg1] 24/8/2017 21:16

Is swooped on the list to get his money back.