Securities Class Action

[KingKongFong]

I know a few of you have thrown this idea out, but I'm curious if anyone here is serious enough to be a point of contact and/or take the lead on this.

Do we have any Canadians here? I'm assuming filing in Canada would be the most appropriate.

I think as a first step it would be worthwhile to get a sense of how many shares we own collectively and whether that number is large enough to make it worth an attorneys time. I've put together a google sheet, please (only if you feel comfortable) add your username and number of shares you currently own.

Google sheet;
https://docs.google.com/spreadsheets/d/1...sp=sharing

I don't have much faith in securities class actions. I've been in two when I used to invest in biotech, and saw a return of $20 USD on a $10K investment loss.

-kong

[sycamoresouth]

I don't have much faith in securities class actions. I've been in two when I used to invest in biotech, and saw a return of $20 USD on a $10K investment loss.

-kong

I'm pretty much on this.  Pretty much the only folks that get money in a class action is the lawyers. Not worth tieing up NM with a lawsuit if that lowers their chance of success by taking away resources that could better be made to hopefully bring about a good out come.  I've got 100K USD sunk into this thing.  If I get $1000 back in a lawsuit it wouldn't be worth it.

[OKC_Geologist]

I have been investing in Nautilus Minerals for 8-years and control over a million shares. A true believer..... It's never been a "trade" to me. It's been one of my few long-term investments.

Frankly, I feel like the wife who put her husband through medical school, only to have the husband dump her after he graduates and begins his practice. I consider that husband to be an evil person.

It's not a large financial set back for me, as much as a huge disappointment. I can take a "dry hole" in stride and move on. But, this restructuring seems extremely dishonest to the common shareholders who have participated in secondary stock offerings and stayed with the company through all of its past difficulties.

In 18-months we may be watching these machines working and making a fortune for its owners, but the Nautilus shareholders who carried the company through most of its development will be excluded from that fortune.

I'm just disgusted.

[Monk3]

We haven't lost anything yet. Well, those who sold their shares have. Class action AFTER we lose. I was a lead plaintiff in a major securities class action. Iron clad case. The company even put out a 26 page internal report that admitted their guilt. Lawyers settled in a quorum vote, I found out via newswire the next day. Lawyers took $27million for 3 months work in a case they had no chance of losing. I ended up getting $8k back on a $265k loss. Let's do a class action after we get screwed, it will only be for spite but I will be in if we end up with a total loss.

[S3li]

I am new to this forum. But I have owned shares in Nautilus Minerals since March 2018. I made an initial investment of 1000 GBP to own 7500 shares. I fear I may lose all my money. I never expected the company to file for bankruptcy because I believed it to have a promising future. I feel like I have been cheated. If there is a way to recoup my money please let me know. Many thanks.

[sycamoresouth]

I am new to this forum. But I have owned shares in Nautilus Minerals since March 2018. I made an initial investment of 1000 GBP to own 7500 shares. I fear I may lose all my money. I never expected the company to file for bankruptcy because I believed it to have a promising future. I feel like I have been cheated. If there is a way to recoup my money please let me know. Many thanks.

No

[KingKongFong]

We haven't lost anything yet.  Well, those who sold their shares have.  Class action AFTER we lose. I was a lead plaintiff in a major securities class action.  Iron clad case.  The company even put out a 26 page internal report that admitted their guilt. Lawyers settled in a quorum vote, I found out via newswire the next day. Lawyers took $27million for 3 months work in a case they had no chance of losing. I ended up getting $8k back on a $265k loss.  Let's do a class action after we get screwed, it will only be for spite but I will be in if we end up with a total loss.

100% agree.

[didgi69]

we don't know the out come yet so hold tight till then its just chit chat i hope haha so sad situation

[KingKongFong]

After spending the last few hours reading through the PWC docs my professional opinion is we're all screwed.....the only thing we can hope for is that it does not pass and they go into liquidation - which will be impossible unless Ed Kopa is allowed as an affected creditor, which its seems like they wont be.

They're going to gut NMI of ~330 million in assets (from Nov 2018 financials) to pay off ~44 million in claimed creditors (from 3rd monitor report to the court), then file bankruptcy for NMI (us) which in their words "does not carry out any operations related to the SMS or nodule business".

There really is no hope. August 8th, 5 pm (Vancouver time) this wild ride comes to an end.....

[HLV]

I agree. I think shareholders best chance to be accounted for is if the judge called for in person meetings with shareholders. I believe a previous poster mentioned the only reference to shareholders in the plan, was a section that said the judge could call in person meetings with shareholders if they ordered it. I'm not sure how you get the judge to call these meetings but I imagine it would come through a lawyer which would cost $.

I have 250K shares at a cost of about .03. Not worth the time/cost to pursue

Similar to Eda Kopa filing a claim to ensure their investment is accounted for, shareholders could try to ensure the judge meets with them prior to the ruling. If shareholders are being compensated no harm no foul, details will surface. If not, maybe shareholders will have some leverage.

I'm a US citizen. Not worth my time to pursue. If nothing else this soap opera has been far more interesting than my Fantasy Football Teams.