One thing I have learnt from years at ASX, to touch anything that has TS and MD names on it with extreme caution. Both have a myriad of near-insolvent business ventures and shell companies that have not resulted in any LT profits for the SHs.
I really wanted to believe that EUR was different, I even bought in some reasonable packages in EUR when the news were largely positive (×2 packages of shares amounting to ~$240k). However, ended up selling (.105) when I started to get the hints of the TS 'magic' showing its symptoms.
TS's companies always follow the same holding patterns and hallmark signs:
1. Strong marketing and media coverage, however the claims and promises almost entirely removed from reality of the market and its dynamics
2. Complex network of asset and equity movements with complicated and non-transparent business structures
3. Non physical development of assets (MOUs, Offtakes, Lease Renewals, Feasibility studies of feasibility studies, Agreements of supply, Listings, Renames , Partner agreements) whilst the assets are unchanged/undeveloped
4. Heavy-handed allocation of performance shares and salaries is always prioritised over SHs returns (recurring theme for CLE, EUR, CUF, DLE, MOM)
5. Heavy cross capitalisation of loans and equity across the TS/MD network of companies, as evident by the continuous money siphoning from EURs coffers to keep paying salaries (inc TS, double-dipping btw) in exchange....for equity in those companies. So we are changing real money for candy wrappers, outrageous.
6. Asset purchases and company direction pivots with the SHs money without any transparency or due diligence: i.e. Ireland assets purchase, Iceland assets purchase, Ukraine assets purchase, list goes on and on.
Many of those will become future listed companies and spin-offs to continue the trademark style of TS's network of companies.
7. All the companies listed above since delisted that TS was involved in eventually get to 0.0005 SP or below as they are drawn, used, consolidated and discarded. None of the companies in TS network are a 'glowing success' for the shareholders.
I know that I'll cop all the hate from all the usual pumping suspects on here, but I just wanted to bring a more nuanced observation/experience that I have had with CLE (used to be a holder), CUF (used to be a holder), EUR (used to be a holder). Specifically to warn those that may be unaware and/or unable to see past the marketing veil of the news that those companies communicate to the market.
Before anyone starts talking about my agenda, call me names and talk about me trying 'to get their cheap shares', I got no agenda, I paid my dues. Have removed all of my orders from EUR sheet (had an order line at .070 for almost a year post sale, then moved it to .060, then moved it to .050, then removed it recently). Just wanted to share my experience. We are here to see a diversity of opinions no?
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