Rambler Metals & Mining Share Discussion Threads

[amaretto1] 05/11/2022 07:01

EUA has gone from 40 pence to 4 pence on the bid ..... hello

[amaretto1] 05/11/2022 06:59

HZM another ..... 4.5 pence in old money .... halved !! Not such a Mineing guru are you ??

[excellance] 04/11/2022 22:28

ECR is up 47% in a month.

[amaretto1] 04/11/2022 21:45

ECR down 5 percent .. under a penny on bid ... Gold up !!!

[master rsi] 04/11/2022 14:19

GOLD is doing well as is Silver but Copper today is the best of the lot

Gold 1,672.15 +41.25 +2.53% Silver 20.488 +1.058 +5.45% Copper 3.657 +0.230 +6.71%

[excellance] 04/11/2022 13:04

Copper is flying, Newgen must be laughing!

[pensionplanner] 03/11/2022 10:39

There was one involved in shale where the shareholders were told the asset was not viable, and it was sold for peanuts with a former member of their BoD complicit, then sold on for hundreds of millions. It was a famous case, but sadly I can't find the details now.

Then there are multiple cases of fraudulent claims and misleading investors, all of which in the UK would make directors personally liable for damages:

[danmart2] 03/11/2022 09:55

Thank you cinoib

[bsg] 03/11/2022 09:11

. Wrong thread.

[amaretto1] 02/11/2022 17:16

Night hawk energy !

[cinoib] 02/11/2022 14:22

danmart, now your asking Minmet, late 90's and a company in Zambia I think or was Zimbabwe. early 2,000's I got out of both with a small profit before they collapsed. Edit, Just remembered Avocett was another but more recent only a couple of years ago.

[pensionplanner] 02/11/2022 11:13

Cinoib. Oh I'm not too worried, I kept to my investing limits, have a broad portfolio and only invest what I can afford to lose.

Apart from that I can be a company or directors worst nightmare, so I have every confidence I will get my investment returned one way or another.

[danmart2] 02/11/2022 10:42

Cinoib,
can you let me know which companies ended the same way?

[whoppy] 02/11/2022 10:42

Mining on AIM is high risk. It's bad enough trying to run a mine profitably, but the highest risk is how it's funded and whether the BoD have the experience to do the job properly and are telling the truth. Nine times out of ten this is why miners fail.

[cinoib] 02/11/2022 09:44

Pensionplanner, You are so right but it won't be any small shareholders. Best thing you can do is use your shares to light the fire as that's all they are good for. 34 years in this game and this is the third one I have held that has gone to the wall in this manner.

[rental] 01/11/2022 16:12

does anyone here hold 5 percent,if so we can get you voted to takeover from the current board,

[rental] 01/11/2022 16:07

PensionPlanner1 Nov '22 - 08:29 - 8983 of 9016
0 0 0
1. Not acting in good faith

The recently published case of Antuzis v DJ Houghton Catching Services Ltd, confirmed the principle that directors entering into contracts in bad faith can be held personally liable.

In Antuzis, it was held that the director and sole member of the company was liable for inducing the company’s breaches of contract where they were knowingly in breach of fiduciary or personal duties to the company.

The case of Antuzis looks at whether a director will be held personally liable if they are “acting bona fide within the scope of his authority”. In Antuzis, the discussion focussed upon “the officer’s conduct and intention in relation to his duties towards the company” rather than “towards the third party that provides the focus of the ‘bona fide’ enquiry”. As such the director should make sure he fully understands not only his statutory duties but what documents such as any shareholders agreement and articles of association set out.

5. Breach of director’s duties

Directors’ duties are set out in the Companies Act 2006 (CA 2006), and also apply to:

de facto directors (persons who act as if they are a director and are treated as such by the board despite not being validly appointed as such); and
shadow directors (persons in accordance with whose directions or instructions the directors of a company are accustomed to act).
The seven statutory duties are as follows:

to act within their powers;
to promote the success of the company;
to exercise independent judgment;
to exercise reasonable care, skill and diligence;
to avoid conflicts of interest;
to not accept benefits from third parties; and
to declare interests in proposed or existing transactions or arrangement with the company.

[trader465] 01/11/2022 14:01

Bradbury has done what Newgen has paid him to do, well played Toby

Newgen will get the asset and Toby Bradbury will retire with a fat brown envelope 💰

Meanwhile amaretto will be having a pot noodle for his Christmas lunch

[pensionplanner] 01/11/2022 12:57

Someone could be in line for a nice bung though!

[amaretto1] 01/11/2022 12:45

Absolute rubbish..... idiot U think big shareholders will let that happen for 9 million ???FO

[excellance] 01/11/2022 12:41

If Newgen thought that the Ming mine was worthless they'd close it today.

It is not closed, it is still operating, and could still be developed into a world class mine.

The problem has always been the small minded plan in the heads of the large shareholders, but now Newgen have the opportunity to dilute the large holders down to have no influence, and finance the company properly.