Australia's largest stock trading and investment forum Australia's #1 stock forum

LIN

Click for more information

4.17%

11.5¢ lindian resources limited

Court Case Concerns (Glorys Request), page-2

First 2 Last

Share
Profile

Follow
glory

736 Posts.

159

24/05/22

17:59

Post #: 61595300
Share

Originally posted by nro: ↑

On Glorys request Im offering my thoughts upon the court case due in a few days.

Many questions have been raised but all remain unanswered.

Even pompom rampers like Alexandria has avoided such discussion as we can see. Which goes to show really.

So I have collated a few questions raised and presented before that havent had answers yet. Sorry if a few have been doubled from previous posts. Its because no one can answer them yet and the ones who could have been removed.

REE Case
The REE case has had a long history. As you know the case has been lost before under well spelt out grounds by Magistrate Manda. Begging the question by many holders why we continue pursuing it and risking an ever higher counter sue. I guess its much like when you are trapped and cant get out you need to keep pushing forward despite the odds and as some say "hope" things change in time (right Glory?).

But this wont make the concerns just go away. So heres what fears remain unsolved collected from these forums over the years.

Obstacles Unresolved.

1)How we going to afford this case when the court case according to glory, may have cost us $200k last quarter. Thats crazy! Thats after our original case and all the costing. This is just an plea to be reconsidered, with the same information, and yet look at the cost! We dont have any money in the bank to get us through this quarter. Let alone a month or so at this rate.So how will we afford more of this?.

2)Why arent we being told where all that money went last quarter? It was a huge amount. Over $300k in a quarter. Its a huge jump. But there was no word on why? Shouldnt we know? Does anyone here know why? Or did we just accept its ok without even knowing why all that money disappeared? Does anyone here know? Why do I get the feeling no one does and thats all ok?

3) Arent we worried about the $500k counter sue? Or was it $500million you were saying? That sure sounds like a lot. Neither we could afford. If we lose this who will participate for paying the counter sue? Dont you think investors will rather to just drop the stock and we go into administration? Think about it.That figure was the correct one wasnt it Alexandria? What have we got to defend against it? We have held the project up on its advancement for many years. This counter alone could bankrupt the company couldnt it? Do you think the Saner family would want to do that given their inconvenience for so long? I think they might be very keen to list their claim the second this court date is resolved. Im worried if we lose this case. Investors will pile out the door and wont wait for Saners counter sue to arrive. Knowing how much it is. Why would you stick around?

4) How can we compete against a company who isnt ASX listed and so could easily pay any bribes required. This is Africa!...and we have all seen dozens of corruption articles from well researched posters here! We are in hot water in Arica!

5) Magistrate Manda did say "You cant claim mineral rights if theres none to claim". Makes prefect sense doesnt it? How will LIN get around the fact? I cant see a way. Thats the whole case sorted right there.

6) Lets say we win. What would we win? Wed win the right to buy the mining rights right? Have you ever thought about what Saner will do if we win the "right". Maybe value the project extremely high? Give us the biggest purchase price possible? Its not like we just win the rights is it? In case I overlooked something. All it means is we have to now buy it right? Arent we trapped even if we win?

7) Maybe Saner can still counter sue for the $500 mill. One poster here said its a $1 billion dollar project. Thats obviously after investing considerable more to get it up and running. Then what $500 mill sale price for a $1 billion asset? and a $500mill counter sue. See where these numbers are heading. Surely its a dud deal even if we win. We are still trapped, We still may lose an awful and we dont have money to lose! Thats why so many posters here to drop the case immediately (since I think many have sold). Its a bomb in a way isnt it? Even if you win it. Its still got the potential to explode and cost you dearly!

8) Have you read the court transcripts? Have you read how LIN agreed to points Magistrate Manda were making? Thats unmissable evidence. As far as I understand it. Thats surely hard evidence by our own testimonial isnt it? How do we get around that?

9) No we have a lot of fake rampers here claiming so many things to pump the sp. Like mining rights are going to be taken. But is that even what LIN is doing? I understood the last court case was for $100k plus 10% interest above base loan lending rates (not sure why they added 10%?..just looks bas in my eyes really to add some icing). So why are people thinking its so they can get mining rights from this case?

10) The tenement still doesnt have a mining license does it? What makes you think wed even get one? Dont you think a simple bribe can stop it? What can we do about that?

11) IN any event in 2018 the Saner was advised the agreement had been terminated because a third party now held considerable entitlements which woudnt allow the transfer of the 75% requested by LIN. How will that fact now be undone. You can just take back a car that you sold to someone can you? Its theirs now. How will LIN do this even if it wins?

12) Further Saner claims LIN didnt have the capacity to acquire the project. We dont have enough to get through this court case now it seems. If this is true then why are we even argueing about it in court if we couldnt buy it in the timeframe anyway?

13) If Saner wasnt confident he could win this. Why hasnt he negotiated a deal with LIN? Why go to court? hey must be confident surely.

14)Manda did say the documents were void from inception. So regardless of if nd buts. Its over a contract that wasnt drafted well perhaps. Another issue there.

15) Manda states the agreement is merely an "agreement to agree" at its best. Which doesnt allow you to enforce any agreement in any way. Well thats how I read his exact reference. So are we fighting over something we cant enforce anyway?

16) Did the agreement "expressly agree" that the deposit wasnt refundable? So wont we look bad suggesting we want to claim it back? Crazy.

17) If we desperately need money right and management know the court case is soon due to be heard. Wouldnt they do a raise now if they were confident? All the past raises in recent years have been management only.. So its a good time to get a discount again and cheap shares. Then when they win the sp flies up. Perfect situation. But yet they didnt. Im not sure this can be seen as management confident can it?
I havent seen them buy any shares onmarket now they know the case has been relisted neither.
Something youd at least expect so to support shareholders holdings wouldnt you think?
But if they arent buying is this a good sign of confidence?If management arent that confident to buy more now.Why would we be?

Why cant anyone here just answer these questions?
Why listen to pom pom rampers who hide these concerns and get upset when they are discussed?
So many have come and gone. Listening to 10 cents next few days over and over...but many years later what happened?
They sold at loss and no longer here right?
Why all this focus on those who ask about these concerns? You know many have left and sold with these concerns. Why do you guys hang on in hope if you have no answers for their worries? I asked this once before and glory said "hope" it will be ok. Is that all we have left absent answers and solutions? "Hope"?...no one has been able to answer this yet.

Do you think a 4 cent share is cheap if it has no book value in cash? And two projects that could quite well go nowhere at all like the so many others from $2.54 to 4cents today?
Can you see you are not the only one with losses. Pharrell has staggering losses and he has held on for years from almost 20 cents I believe and look where he is now. He expresses how he wishes he didnt hold.
Sowhy do you? I mean what solutions do you have or o you "hope" too?
Many investors have done this Im sure. Why would you be different?
Why say its all rubbish if you cant explain what the solutions are.Just sounds like hiding the truth to me.

Clearly Im not the type to think thats the right thing to do. Hide the truth. Sorry. Its just me to try ask and understand it. Is that so wrong?I just want to know why answering these are less important then trying to discredit someone? Is the second option the only way out given the first cant be achieved?Really?Think about all this before you accuse someone for "fake news". None of this is fake is it? Its all very real and verified. Its just the claim its fake is fake isnt it?Dont want to discuss issues. Fine dont. But dont act like like because I raise them Im more of a problem then they are?I have traded LIN a lot. But I cant "pretend" this issues dont exist. Can you?

So....please prove me otherwise...prove all these concerns have no validity and are "fake".Are there. Or does anyone have. Any solutions to these problems forthcoming or will we continue to try discuss made up stories in an attempt to distract from the real situation better to be understood, discussed and resolved.

If of course they can be resolved right?
See how you go.
Any other response would just admit you cant resolve them right?
Logical assumption if you chose do so.
Looking forward to your answers here. If of course you have them.

Expand

What absolute dribble

LIN Price at posting: 3.9¢ Sentiment: Hold Disclosure: Held
2 Upvote

0 Great analysis

Reply

Top Stories

MBK

Metal Bank setting up shop in Saudi Arabia as part of MENA expansion plans

NOX

Noxopharm aims for autoimmune market with first human trial of SOF-SKN

SUM

Summit Minerals jumps 6% as LiDAR survey boosts confidence in niobium mineralisation

Earnings wrap Monday Week 34: A2 Milk, Bluescope, Suncorp's climate woes & more

Bitcoin: Current State of Play & Where to Next | Swyftx

There are more pages in this discussion • 14 more messages in this thread...

First 2 Last

Add LIN (ASX) to my watchlist

(20min delay)
Last 11.5¢		Change -0.005(4.17%)		Mkt cap ! $132.5M

Open	High	Low	Value	Volume
11.5¢	11.5¢	11.5¢	$53.45K	464.8K

Buyers (Bids)

No.	Vol.	Price($)
7	449369	11.0¢

Sellers (Offers)

Price($)	Vol.	No.
11.5¢	21213	1

View Market Depth

No.	Vol.	Price($)
7	449369	0.110
11	1034985	0.105
14	891791	0.100
1	5050	0.099
2	58500	0.098

Price($)	Vol.	No.
0.115	21213	1
0.120	376575	10
0.125	190289	4
0.135	126910	5
0.140	535000	2

Last trade - 12.00pm 19/08/2024 (20 minute delay)

LIN (ASX) Chart