Nemaska Lithium Inc NMKEF

Seems many shareholders with heavy losses, what's next ?

[TeddyBear]

Losses in 100K$ and above seems unfortunatly share by numerous investors. Bet for many investors from Quebec, they were proud to invest in a project located in Quebec and developed by Quebecer. Unfortunatly seems as often better to invest in US, even in such cases stock continue to trade on US market.

Feel quite useful for those to consult a lawyer with expertise in class action, not to launch a vendetta but to get some reliable information. When got some pain consult a medic, that's same in this case need to consult a top notch legal firm outside Quebec.

There is no reliable data from company (surprising ?) and nothing to expect from forum. Top notch legal firm deal with dozen's case and can quickly provide valuable input, maybe conclusion will be that it is useless, but it is very simple and quick process better to try than to do nothing.

In such case, lawyers paid on the outcome, so IF consider interest to enter the game means they feel there is minimum value in the proceed.

At the minimum, lawyer could represent interest of collective retail interest in court, expect if anybody trust GB will fight for the best interest of all shareholders including retails :-)

At this step for retails investors, forget the very expensive Shawinigan plant, only concern is the value of the mine, according to some evaluation (for example recent Eight Capital) and comments from NMX IR mine value is non negligeable (NMX IR claim C$1bds), the mine deposit is of excellent quality (contrarily to Canada Lithium lower quality deposit) and among the largest in the world (it is what NMX sold !), and all the equipement is on site for spodumene conversion + process operational + engineering almost complete.

Even with low spodume price, 200,000 tons/year concentrate is worth US$100M and many feel lithium are close to bottom (including smart Joe Lowry). Just Tesla plant in China will need almost 30Kt LiOH/year and there is many project on track in the world.

It is not possible if you look to the project as-is that it is in negative equity except if suddenly they try to sold us that the mine have no value, the equipment is not functional, the process do not work ...

Time play againt retail, no time to waste for those who take the most important shot and for whom even a small part of investment is still substantial amount of money ...

[Valuepick]

Very interesting post.  In the event of a class action what would be left for retail investors after creditors and other semi-securized holders split the assets ?  A class action for common stock holder would tell all what went sideways with this project, right now no transparency and as allways with NMX no clear informaiton.  In the end , if you read the post and follow social

[TeddyBear]

No idea of outcome nor if class action make sense, it is why very important to consult professional as soon as possible, can discuss hours and days on forum while it take 5 mn to send an email to a specialized law firm in the field. Many top notch firm in Canada in the field: Siskinds, Koskie Minsky, Gowling, Stikeman Elliott, ... Avoiding a law firm with main business place in Qc is common

[TFSAfunds]

Hey Teddy... you've been pumping this class action for a while now, why not get off your butt and do it yourself? As you say, it's only an email to a law firm! If you're too lazy to do that why should you be allowed to grab onto others' coattails... those that have taken the initiative? And why do you sit there and define the parameters... no Qc firms. Isn't it about time you

[TeddyBear]

Why not myself ? make profit in the past on NMX, loss this time, overall losses a few thousands C$, those with $100K and more should lead. Been in touch with a shareholder with substantial losses, plan to inquire advice from a law firm next week. Bet will not be alone to move. If was due for $100-200K losses as several stockholders will have done it already ! A top notch Qc firms with many

[TFSAfunds]

So, for Qc legal firms, are you saying "don't bite the hand that feeds you" ? Are you saying then that even the legal firms in Qc are corrupt and on the take? And some people here feel that Qc should lead the country when it comes to green energy? When was the last time any project ever went smoothly in that province? Maybe, if a few of the First Nation's members lost bigtime

[TeddyBear]

Nothing to do with corruption, Qc as any canadian province small world, main customers (and revenues) of top notch Qc firm large local corporation, IQ, etc ... no interest to enter in class action. One buddy contact a Qc firm specialized in class action in the past for a possible one against a Qc company, reply for business reason nope.

[akimbo]

Regarding a class action, sadly, some of us have seen this movie before with CLQ.  There was a class action, but shareholders didn't see a penny.  Only the lawyers got paid.   In April 2011, Siskinds LLP, acting on behalf of two investors in Canada Lithium Corp. (“CLQ”, now known as RB Energy Inc., and nergie RB Inc. in its French form) commenced a class action in the Ontario

[TeddyBear]

CLQ case dismissed following bankruptcy, not yet the case for NMX. More important info to retain is that a class action LAUNCH for CLQ !!!