CLZ classic minerals ltd

45.5 billion shares were created, and 44 billion were destroyed...

  1. 3,987 Posts.
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    45.5 billion shares were created, and 44 billion were destroyed with consolidation. Getting employees to come on social media and threatening people. Ex-school teenager headed a company that did multi-million dollar deal over the Gekko. Doing deals with related parties. While all this was going on, gold went through its biggest bull run in history & they virtually folded the company because they could not make any money out of gold after the price doubled.
    What incompetent? or did they find a far better way of making money- take your pick. I fell for the scam because I didn't give it time to prove itself. Personally, I believe they never intended it to be a gold miner, rather it was a churn-and-burn capital raiser, where the capital raised was used to live on and any surplus was probably invested elsewhere.
    Now they have attack dogs believing they are still going to mine elsewhere. After they pay out salaries owed to the CEO they got a Gekko ( of which shareholders paid about 3 times what it was worth) then they may come back to get money from the public again. But they may do it behind a new board, that will be unrecognizable. Churn, burn & rebirth. This requires a Royal Commission just for the involvement of the Financiers alone.
    One red flag was how little stock the CEO & board owned. They just cashed it in as soon as they were able.
    The speculative mining sector needs its legislation upgraded, it has proved itself to be completely unworkable against
    abuse. Their attitude is one-off, ' O don't worry', it doesn't happen very often & they are just a bunch of gamblers (affected) anyway.
 
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