CLZ classic minerals ltd

About 3 years ago they developed a strategy of selling shares at...

  1. 3,997 Posts.
    lightbulb Created with Sketch. 776
    About 3 years ago they developed a strategy of selling shares at ever-lower prices off-market to investors, and to contractors who did work for the company. They then told them to sell the shares on the market to retail investors for a profit, This worked for a while until the selling cue became so large there were no buyers and the shares were permanently at the lowest market price of one-tenth of a cent.

    That didn't stop them though, they issued stock down to half a tenth of a cent to off-market takers,
    After there were 32 billion shares, they consolidated them with a 150-to-one consolidation. They continued shamelessly issuing shares until there were many billions again, and then they did another 50-to-one consolidation.

    Previously, they claimed they were going to start mining and raised another 2-odd million from the public, dug up 950,000 tons of ore & dumped it on a rom pad & left 90 percent of it there. And they then later claimed that they would only be trial mining 10 percent of what they had dug up.
    They did a 2 million capital raising and produced about a million dollars of gold, probably at a 50 percent loss.
    They chewed through numerous brokers & financiers, whilst undermining the share price on market . The public were trapped in the stock, unable to sell as there were no buyers & the company was selling shares off-market at below the lowest market price.
    This is how my $500 of shares became worth 5 cents.
    Basically, they played off-market investors off against on-market investors.

    Now they claim to have a signed contract with some Swiss start-up Fintech Gold token company, which issues gold tokens. But they haven't acknowledged receipt of the deposit yet. So what are the chances of this occurring - very low I suspect.
 
Add to My Watchlist
What is My Watchlist?
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.