Shareholders want be " shareholders wont be pissing money up against the wall" as you say Renes. Any shareholder that took leagal action would most likely do it through a large litigation company who will recoup there cost from the outcome and as you pointed out, NMDC have 5 billion plus and lLCY is a NMDC group company, so this would make Lawyers very excited and eager to act if a shareholder went ahead with a class action suit. IMO
Never fall in love with a stock because as you can see when you look at history of what posters on here have been saying, nothing has been delivered on the promises in over 4 years, so going on history, you would have to bank your money on that continuing. IMO
Furthermore as more capital is needed, more dilution occurs and if holders do not participate in future rights issues, then NMDC will stump up the money and own more of LCY. Eventually owning the company outright or compulsory acquiring what shares are left on the register, once it hits around the 90% mark. IMO
They will own it outright, moth ball it for the future and delist the company, thanking shareholders for helping raise some capital over the years, paying for wages, exploration and office space, while shareholders are left wondering what happened and how a stock with so much potential, promises and a stock they fell in love with, could do that. IMO
Finally, once the penny drops, shareholders will wonder why they didn't listen and speak to a litigation firm when they still could investigate a class action. Game over. IMO
You see posters on Hot copper always singing praises of companies to only be disappointed by lack of what was promised and see the administrators brought in or see the share price falter because promises were not delivered, while they live in hope, that one day they will deliver, rather then look at history to what they have done in the past. IMO
The above is my opinion only and not financial or legal advice . DYOR
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