Have been thinking of this myself, goldx. I think it would have to be well over a 100 million US dollars or pounds when you consider the following:
- Solg was basically owned (85%) by DGR when it listed at 50p. We haven't from memory bought any additional shares and we started with just over 208 million shares. Think we have around 186 million (TBC) left. The share price is now under 10p. So massive drop in equity for DGR shareholders. SOLG has now over 3 billion shares on issue so again massive dilution to DGR shareholders (under 7% equity). Well over 50 million pounds drop off.
- At time of Solg's listing DGR share value, again from memory, was around Aus 40c....now 0.014c. so significant loss again Tens of millions;
- Under management of Mather DGR and SOLG price slid down to 2 c and 2p respectively and didn't Mather and his select and in the knowledge mates buy up big. Enormous dilution for the other shareholders.
- Don't forget the amount of money we recently threw into AJQ ($24million) plus the seed money at start which would have been additional millions. All on a verbal promise and a follow up phone call. AJQ raised over $40 million in a series of capital raisings and is now worth nil, zilch, nothing....unless sometime this century we actually finalize something in one of our civil cases (remember the gel issue with AJQ and there is a list of them). But remember, one of the main directors is a solicitor who was an expert in company/mining law!!!!!! What about the millions of pounds suggested defrauded from SOLG. Nothing to see here, there or anywhere!!!!! You have to cry, but the BOD got away with it with no accountability.
- Significant capital raisings by DGR with the last one being 8c per share with bonus options to boot. Options went up in smoke, money pis..d against a wall, and share price is where it is by the incompetence of our masterful BOD, their significant investor mates, the senior executives and the top 20 shareholders who have continued sitting on their hands and did nothing to curb the incompetence over nearly 2 decades.
- There are a number of other DGR daughter subsidiary companies which raised millions through capital raisings and all went out the back door, or soon will. No doubt tens of millions lost in these as well. Poor old shareholders but at least the BOD's got paid in full.
- So many other issues contrived and mishandled when they were holding multiple directorships. Each directorship was given separate packages of compensation/travel/bonuses/options for each company, with Mather being paid well over 1,250,000 (UK) pounds per year for over a decade. Remember the one off 3 million pound bonus and the 50 odd million 60p bonus options out of some 68 million allocated together with quite a few other cheaper options later on. Another bonus $5 million loan was also mooted to go to Mather. Never put any of his money into these options...they simply expired. So sad. Too bad. Mather is still getting paid somewhere around the $500,000 (US) per year. Other directors likewise being paid in multiples together with company secretary getting his fill. People assigned communications and or media officers.....no announcements for months and months. Millions spent on administration costs and what, somewhere near 800 employed by SOLG but nothing being mined. At one stage SOLG also had over ten drilling rigs ready to go with crews etc but mining stopped......still cost millions no doubt. Other mining companies actually doing mining would have benefited from their gaining access to this sort after equipment and personnel.
So perhaps this might explain why DGR, SOLG, AJQ and so many of the other subsidiaries are where they are now. Simple answer is the average, non-director and their significant mates, shareholders have lost huge proportions of their investments which would equate to suggestibly well over the 100-million-pound mark. Mather, in particular, has been paid over 10 million pounds/US dollars (and I suggest a lot more than that). Come December one can almost see even more huge losses continuing while the people in positions of self-appointed and knowledgeable power will collect a bonanza. Hope this helps.
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