He really is a Con Man!! So glad I listened to my gut instinct a...

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Ropes75

349 Posts.

152

05/12/24

14:15

Post #: 76932732
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Originally posted by Ddog157 ↑

Not a complete surprise......these pricks were playing games for a long time.

Cleverly deceived shareholders to milk generous salaries over the last four years re the financial aspect of the feeder and plant. By having each finance aspect reliant on each other, he ingeniously was able to dangle the carrot to shareholders as well as maximise the capital the company made.

Red flags were there however. Outstanding offtakes demonstrated a complete lack of confidence in the technology and the inability to raise a cent during the lithium boom was writing on the wall for me. This was by all accounts, one of the cheapest small scale lithium projects in the world.... if not the cheapest. So there was clearly something wrong.

Yet he had everyone believing it was right around the corner.

No issues losing my money. These are penny stocks and simply not all make it. So there is always a risk. But the the part that angers me and many other shareholders, is that this bloke could never be upfront about the progress of the financial development over those years. The man couldn't even show his face and give the shareholders honest updates and progress over the last year when finance was promised. Instead, these changes were sneakily slipped into quarterly reports and further information milked out of him and the board by exhausted and drained shareholders at the last two AGMs.

As i mentioned earlier, the Namibia mine was probably just a heap of dust in Africa that they bloke probably never even set foot on. But will give him and the board credit.......a ripper of an idea though!!

Can picture him now with his smug smirk and smile as shareholders read through the final chapter.

I hope everyone remembers him for what he was.......

A con man.

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He really is a Con Man!! So glad I listened to my gut instinct a couple of years ago and bailed breaking even!!
I really do feel for those still holding, very sad state of affairs.

LPD Price at posting: 0.2¢ Sentiment: None Disclosure: Not Held
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