MTL 16.7% 0.3¢ mantle minerals limited

Complaint raised with ASIC

  1. 498 Posts.
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    Hi guys,
    I have just reactivated my account on HC to share with you some information regarding my experiences with this company, and the subsequent misconduct claim against them I have started with ASIC. Firstly, as anyone who has been unlucky enough to get trapped in this stock for some time now knows, we are dealing with a special case indeed. I (like most others) have been burnt recently by firstly the 'share consolidation' , then the subsequent 'unmarketable parcel buy back' apparently offered by the company. Whilst I will tread carefully here so as to avoid defamation whilst this process is underway (still filling in the claim details)……I would hazard a guess that some or many of you have experienced the same.

    1) unable to reach the company through either email or phone- I have tried several times over the last month to speak with someone from the company regarding the eradication of my capital through this process, and the lack of monetary compensation (even if it is little) for the shares they allegedly PURCHASED back…..
    2) Company phone numbers redirect to Everest Accounting - No responses to emails regarding issues- Everest is a company run by Jonathon Busing - The current NED for CAD…….and when I eventually got through to this number (which only works if you type the number in manually- otherwise clicking on the number directs it to a mobile number which is never answered), you can leave a message requesting a call back, to which you will never get a response. The situation is the same with the email on their website [email protected]….I have received nothing in response to my concerns...
    3) Never received cheque or statement of accrued loss for taxation purposes- Ever since this unmarketable parcel buy back was initiated, the only way to avoid having your shares RIPPED from under you, was to purchase more or have a portfolio consideration of more than 500$. I believe that there was an option to retain your shares if you elected, however I work away and missed this ability - and from reading some on this forum, I believe that even if you ticked this it was ignored for some holders. Despite all of that…….Where is the money that I am owed? Where is the money for the shares CAD "PURCHASED" back from me?????
    4) Company continues to attempt to raise capital - for all intensive purposes, the company is now a shell. they do not respond to emails, phone, shareholder enquires…….what is their current scope of operation? I noticed on the 21 Oct they have begun another capital raise for 150,000? What for? How long can this be allowed to continue……..which is why I contacted ASIC. The representative I spoke to at ASIC advised me to contact any other shareholder I knew of that have had the same experiences, because as a group, the more misconduct allegations received against the same company, the closer the company will be scrutinised. Hence I am here, sharing my experiences with all of you guys. I urge any of you who have had a similar journey to take the time to follow the below link and begin the process. Please share this with any other former holders that you may know personally, as I believe the actions taken by the company over the last 6-12 months (probably actually more TBH) quite realistically constitute gross misconduct, and at the very least should be stopped from trading on the ASX immediately. would like to know others experiences?

    https://asic.gov.au/about-asic/contact-us/how-to-complain/report-misconduct-to-asic/
 
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Change
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Mkt cap ! $15.49M
Open High Low Value Volume
0.3¢ 0.3¢ 0.2¢ $3.144K 1.314M

Buyers (Bids)

No. Vol. Price($)
62 130187070 0.2¢
 

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Price($) Vol. No.
0.3¢ 61530912 65
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Last trade - 13.47pm 24/05/2024 (20 minute delay) ?
Last
0.3¢
  Change
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Last updated 13.47pm 24/05/2024 ?
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