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Ucore Rare Metals Inc. Message Board

kbmyv 4 posts  |  Last Activity: Jul 14, 2014 3:37 PM Member since: Jun 23, 2012
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  • Reply to

    Wong & Co face up to 2 yrs and/or fine

    by kbmyv Jul 8, 2014 3:29 PM
    kbmyv kbmyv Jul 14, 2014 3:37 PM Flag

    I will contact Mellon about my LYSDY shares, thanks.
    Lynas also gets to use any LYC.ASX shares that had no instructions and that is what I am concerned about. Since there is one LYC.ASX for each LYSDY shares those LYC shares should be voteable but the guy from Lynas said no. Was he thinking LYSDY shares cannot be directly voted at the AGM ..duh and thus he was correct in saying no, but the underlying LYC shares will be voted management's way? Hmmm ...

    Lynas is in trouble because Nick was too busy taking care of himself, I remember the Crown deposit which he tried to sell for a song to Forge (now renamed as Rutila) while also being its Chief so he could get 28 million Forge performance shares worth millions. The shareholders blocked it but Nick spent months afterwards trying to earn them and he did a few days after they expired but Forge's Board gave it to him anyway. All this during the LAMP crisis .. and he owns close to 50% of Forge (Rutila) today and is busy making deals for it. First and foremost Nick is a wheeler and dealer looking out for himself. And did he stir this year for Lynas only bec he knew the auditors were going to include a going concern statement in their report?

    AS for EN he might have had no control over the company at all ... all the folks there were beholden to Nick and probably did things Nick's way. I hope the new CEO Amanda does much better, at least she has prior experience running an entire company and has indentified some Lynas shortcomings like lax procurement standards (very important IMO) . I hope she also cuts a lot of Nick's loyalists so she can run the company her way.
    Time will tell

    Sentiment: Hold

  • Reply to

    Wong & Co face up to 2 yrs and/or fine

    by kbmyv Jul 8, 2014 3:29 PM
    kbmyv kbmyv Jul 11, 2014 11:33 AM Flag

    Yes Wong deserves this kind of attention., hope he gets jail time. NC never got this kind of attention and he has gotten off scot free I think. And I had wondered why he suddenly gave up his very well paying CEO job only to find out a few weeks later about the mess in LAMP. Now his hand picked successor does the same maneuver, leaving before the bad news came out. And they left fully paid .. no clawbacks, no nothing. No one has beenheld accountable and I don't know why the big institutions and lenders are not clamoring for more info. The Lynas board is a sham IMO I wonder who is up for re-election this year at the AGM? Certainly AL, maybe NC too. Hopefully they don't play the SMSL and Wong Tack cards again at the AGM which will be held before Dec. results. (so all questions on produuction will probably be met with ."wait for Dec Q announcements forthcoming end Jan 2015"

    I was told by my broker that they can vote my LYSCF shares as instructed by me and I wrote Lynas last year as to whether I could vote my LYSDY shares and they said no. When I asked Lynas if these LYSDY shares are made available to management at the AGM their reply was no. What is your take on this? I don't like management telling me one thing when the opposite is true.

    Hope you get better soon.

    Sentiment: Hold

  • Now that weasel will have to spend $$ for lawyers and report to the precinct once a month!

    From the malay mail online

    Some quotes

    "According to The Star, Wong and nine others were charged under Section 145 of the Penal Code, which carries a jail term of up to two years, a fine or both, if convicted.

    They were Chong Kong Yuen, Raymond Ng Abdullah, Hew Kuan Yau, Thomas Wang, Ta Weng Seng, Rapar Ahmad, Lee Khai Ming, Tan Chee Hooi and Zamri Zonal."

    "Five other protesters were charged for gatecrashing a police blockade set up under the instruction of ACP Abdul Aziz at the same place and time.

    The five charged are Phua Kia Yaw, Ho Kam Huat, Foong Poh Choo, Wong Chee Wai and Wong Chee Wen.

    The offence, under Section 147 of the same Act for rioting, also carries the same punishment, upon conviction.

    Ho, also faced an additional charge for allegedly using criminal force to deter a public servant from discharge of his duty, adds The Star."

    "The sessions judge also set conditions for the accused not to discuss the proceedings with a third party and to report themselves to the nearest police station before the fifth of every month."

    etc etc

    Overwhelmingly Chinese , as usual
    Wong will be hard pressed to keep his mouth shut.

    Sentiment: Hold

  • The rich plantation owner probably thought he was immune .. throw the book at him as an example to all the anti Lynas people who use the LAMP for political gain (Wong is a member of DAP a mostly Chinese opposition party) and showmanship.

    On the malay mail online

    Some quotes
    "KUALA LUMPUR, July 7 — Fifteen environmental activists who took part in a mass protest outside the Lynas rare earth plant in Gebeng, Pahang are set to be charged over the incident at the Kuantan court complex tomorrow, local daily The Star reported today.

    Environmental group Himpunan Hijau’s secretary Bang Seet Ping said the police have informed the 15 individuals that they will be charged with participating in an unlawful assembly and using criminal force to deter a public servant from discharging his duty.

    On June 22, about 800 to 1,000 people had reportedly shown up at the Himpunan Hijau rally called “622 Shutdown Lynas” outside the Australian miner’s plant in a bid to shut it down.

    The police later arrested 16 of them — including Himpunan Hijau’s leader Wong Tack, Teluk Intan DAP chief Hew Kuan Yau who carries the nickname “Superman” and Australian activist Natalie Lowrey — after they failed to comply with a police order to disperse."

    etc etc

    Sentiment: Hold

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