Ann: Mt Celia gold project - drilling to commence-LCY.AX, page-23

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KLal

81 Posts.

19/08/16

15:17

Post #: 18559790
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Originally posted by KLal ↑

The litigation funder, IMF Bentham said it would pursue claims of certain and former shareholders conducted by law firm Piper Alderman’s Brisbane office.

The claims relate to alleged misleading and deceptive statements made to the ASX by Kagara between September 30, 2010 and April 26, 2012.

“The proposed claim will allege the directors made misleading representations to the market concerning Kagara’s net profit (or loss) and its net assets, and did not disclose certain information to the market in its half-yearly and annual reports from 29 September 2010,” IMF said.

Shares in the miner were suspended on April 26, 2012 over a rescue funding package.

When that package didn’t eventuate, the heavily indebted miner called in the administrators on April 29, and was placed into liquidation the following year.

Former shareholders of Kagara have until September 2 to register their interest, and the action will only proceed if IMF signs up sufficient claimants with valid claims.

http://www.imf.com.au/cases/register/kagara-limited-overview

https://www.businessnews.com.au/article/IMF-to-fund-Kagara-class-action

HC EXPERTS - SHOULD WE CONTACT THIS LAW FIRM FOR CLASS ACTION. SEEMS A LOT SMALLER RETURN THAN NMDC BACKED LEGACY ????

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LCY latest announcement of drill result is a joke. They need to have atleast 100 times better drill result to actually find something for mining.
Tells the sub-standard capability and mining understanding of manangement and board to do such an announcement -saying it encourages them....

LCY Price at posting: 0.6¢ Sentiment: Sell Disclosure: Held
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Ann: Mt Celia gold project - drilling to commence-LCY.AX, page-23

Top Stories

History-making uranium sample grades and an imminent drill run. Infini Resources is poised to transform in 2025

Australian Rare Earths bullish on early-stage uranium potential at Overland, SA

Pro Medicus signs landmark $330M deal to roll out imaging platform in US hospitals

Pan Asia rebranding to 'clear confusion' after bagging $35M for Chile projects

Chaos reigns markets – so let's take stock of where we're at ahead of December

MinRes's Ellison knows he screwed up – for that reason, hunt for new Chair to be sped up

Watchdog takes Webjet to court over alleged 'false' flight prices with hidden fees

This biotech stock raised $11M in a risk-off environment. Its Alzheimer's drug could change the game

Chimeric clocks $4.17M R&D tax rebate from Canberra

Southern Cross Gold zooms in on 9 new high-grade zones above 20g/t at Golden Dyke

Buyers (Bids)

Sellers (Offers)