Post by
mick1888 on Sep 05, 2020 9:20pm
Letters of Complaint to Pallinghurst
Every shareholder should use the power of the pen (or keyboard) to complain to all available authorities and media outlets within their jurisdictions. Here are my two letters of compaint direct to Pallinghurst (incidentally they have updated their website to confirm status of aquisition, link below);
25/08/20
Dear Directors
Can you please explain to me why you have abandoned the ordinary shareholders of NMX, when your original offer in 2019 incorporated them in your future plan for the project?
In fact, with the incorporation of funds (up to $300m) from IQ, and the settlement of the Nordic Bonds early 2020, the current situation is even better now than it was in 2019. So why then have you back tracked in being all inclusive of existing stakeholders?
Can you please disclose what discussions and meetings your executives have had with Investment Quebec and / or Minister Fitzgibbon since October 2019, in particular from December 2019 to end January 2020? It would be appreciated if you could clarify what influence any such meetings or discussions have had in Pallinghurst changing their course with NMX common shareholders in mind?
Lastly, do you have a complaints procedure than can accommodate a dissatisfied third party being affected by Pallinghurst actions?
Best Regards
Michael
(Nemaska Lithium Shareholder)
06/09/20
Dear Directors
Further to my enquiry and complaint on 25 August 2020 which you have not acknowledged to date.
Can you please confirm if it is your intention to reply, or is it necessary for me to proceed with a complaint direct to the Financial Conduct Authority?
I believe you are in breach of your own ESG policy and Code of Conduct. In addition, I do not believe you are aligned to the principles of the UN PRI in the matter of the purchase of Nemaska Lithium, and of which I will write separately to the PRI Association Board.
I think your treatment of the common shareholders of Nemaska Lithium is deplorable, and I believe your assumption of being ‘in the later stages of acquiring Nemaska Lithium’ as stated in your recently updated website is premature. With the level of anger and resentment running high among existing shareholders, this project may not produce Lithium Hydroxide for a very long time.
I would respectfully suggest, there is still time to change your offer to include exiting common shareholders as you originally proposed.
Yours Sincerely
Michael
(Nemaska Lithium Shareholder)
https://www.pallinghurst.com/investments/
Comment by
bigkagan on Sep 06, 2020 12:14am
I'm sure somebody could have found $80 mil. to give every shareholder 10 cents per share. Once we get our residual shares we must apply to court to freeze them until we get at least 10 cents per share and then we could become an investment company like Sprott
Comment by
TicTacTo on Sep 06, 2020 8:24am
Why Pallinghurst should consider any shareholders letters ?
Comment by
Calgary_AB on Sep 06, 2020 2:21pm
Does it say in your BS UN PRI that they are not aloowed to buy a bankrupt company because the old shareholders lost money?
Comment by
TicTacTo on Sep 06, 2020 5:02pm
Christo Wiese is main investor in Pallinghurst, code of conduct think he care lol ! https://www.dailymaverick.co.za/article/2017-08-01-declassified-apartheid-profits-who-funded-the-national-party/
Comment by
mick1888 on Sep 06, 2020 6:48pm
Reputation matters to attract money.... ;-)
Comment by
Calgary_AB on Sep 07, 2020 12:13am
It's funny, when I said Credit and Reputation Matters I got bashed... I said GB drove T-REX into bankruptcy and based on that his credit and reputation are ruined.... You should have seen the brainwashed jumping on me like zombies...