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8.3¢ mirabela nickel limited

So what is actually happening, page-47

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ccdavid

2,532 Posts.

309

13/07/16

20:33

Post #: 18263558
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Originally posted by Lucky Phil ↑

Hi ccdavid,

If reference to law student poster is Tom Boy:
- We've spoken a few times via mobile recently;
- He says he's been permanently banned from HC for promoting the class action;
- In relation to this we - and others - have chipped in to get QC opinion regarding alleged misleading and deceptive conduct by directors - before VA & VR - when presentations made by directors incl. teleconferences, powerpoint presentations and financials (with and without caveats) supported the decisions some of us made to hold or to invest further in MBN;
- Tom and I lways appreciated the risk and reward associated with this and any other any investment - provided it's not associated with misinformation as alleged in this instance;
- We and others are seeking at least money back based on decisions that we and others made that relied upon the information that was allegedly either falsely provided or incorrectly withheld;
- Presentations have been made to the legal firm and now it's WIP while we await the QC opinion.

In the meantime TB has also advised me of a 2nd area of action since our CA group had met with the lawyers for the third time and had made a detailed presentation to them (in relation to the matters abovementioned) and with a view to using their insurance coverage and attracting large shareholders to join us: He informs me that "The lawyers have confirmed with the VA that all directors each have AUD 20 mill directors liability cover AND in the lawyers opinion 'The very act of putting MBN in VA when it was clearly was solvent and trading profitably as confirmed by the VA in his report soley put MBN into a crystalisation of the debt not due until 2019 thereby causing its premateur insolvency was without justification'" and is a further basis for action for alleged misleading and deceptive conduct.

On a third front and in relation to where we all now stand post VA and VR and with MBN in liquidation - I share everyone's feeling's that we're about to be shafted as the posibility looms that the mine will continue - at levels of performance greater than when we invested - yet with new owners for which we will receive nil for our current holdings. For my part this would be a third basis of an action (possibly a CA v ??? for alleged misleading & deceptive conduct) where we would seek recompense for the value of any future going concern over and above that which we paid for our shares.

As you infer, each their own, but for my part and no doubt yours - and many others - please maintain the rage, stick together on this one and not let this one disappear with nothing in return for our all of our hard earned investments. I'll attempt to keep this group posted in Tom Boy's absence.

Cheers to all.

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Hi Lucky Phil,

Thanks for posting all this information for us to know how the CA have been progressing.
Although I haven't join the CA yet, I would like to find out first what happens this end of July.
As you have stated , everyone is welcome to join even at a later date. In this case I will wait
for the verdict and weigh things out. But anyway, Good Job for you Guys pursuing this specially
You and Tom Boy. Keep us updated.

Cheers

ccdavid

MBN Price at posting: 8.3¢ Sentiment: None Disclosure: Held
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