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CHM - Chameleon Mining

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CHM Chameleon Mining NL

Inaugural Australian Share Holders "Gold Medal Winner" for services to shareholders, Nigel Burch, agrees to head up Group "Attack" on former Directors and to fend off liquidators choice of takeover company, Koh & Co.

Shareholders committee details at www.blackdogsbarking.com
 
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Re: CHM Chameleon Mining NL

Liquidator of Chameleon, John Vouris, seems unwilling to acknowledge the existence of Chameleon shareholders. No reply has been received to two letters from the new Chameleon Shareholders' Committee.

Vouris is the same liquidator who was recently suspended by the liquidator’s disciplinary board for failing to carry out or perform adequately and properly the duties of a liquidator.

Of particular interest to Chameleon shareholders is that Vouris's suspension related in part to his concealing of a financial relationship between him and the person who appointed him as liquidator of a company.

"The Board regarded Mr Vouris' misconduct as being of a high level of seriousness. The Board also described his attitude as reprehensible and that his actions fell well short of acceptable standards of conduct."
(From ASIC's website www.asic.gov.au).

Seems that his period of suspension may not have taught Vouris anything.

Chameleon shareholders don't want to see their Perth company quietly liquidated in Sydney, nor do they want to see the company "saved" by passing total control to a person who has a history of failure to perform, and diluting their shares almost out of existence in the process.

Its time that the black dogs bared their teeth.
 
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Noticed this one having a nice upward trend over the past few weeks breaking the 10 cent barrier.
This will be interesting considering their past.
 
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Announcement - CHM are suing MMX!

Looks to me like they are claiming ownership of Jack Hills - could be worth billions! :eek:

Can any legalese speakers out there confirm this?

Disclaimer - I'm a cartoon cat, DYOR!
 
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Re:benny elias on the CHM board

I saw an article on CHM yesterday about the claims over jack hills,also my tiger legend old mate benny elias is on the board, we go way back to the junior footy days in the balmain district,him at holy cross myself at leichhardt wanderers & juniors.

It looks like an interesting legal battle about to play out here so ill go over the claims & see whether they are a big chance of winning,however benny elias being on the board gives them credibility as he is an astute businessman currently developing the balmain leagues club site into a huge complex...tb
 
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Re: benny elias on the CHM board

I have shares in this company and will keep these for the long term. Is this case able to go to appeal if a decision is made, or with the advance payments both companies have made to have aa quick resolution on this matter revoke any legal battle for appeal...


I saw an article on CHM yesterday about the claims over jack hills,also my tiger legend old mate benny elias is on the board, we go way back to the junior footy days in the balmain district,him at holy cross myself at leichhardt wanderers & juniors.

It looks like an interesting legal battle about to play out here so ill go over the claims & see whether they are a big chance of winning,however benny elias being on the board gives them credibility as he is an astute businessman currently developing the balmain leagues club site into a huge complex...tb
 
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Anyone have any ideas what this may be abouT.no decision is to be made til november. what is this halt all about.
 

Sunburnt

Slip, Slop, Slap
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I have a (now small):banghead: holding in this company. Still hoping litigation will progress favourably. I don't know of any recent news though...
 
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whoa long time in hybernation this thread.

:D in and out of court ... what a star..... lol gotta love it tho, quite surprised its still listed to be honest but hey while it is anyone else trading it?

any of the long term sufferers still holding?

I hold a couple but merely beer money and not in as anything more than a speccy tech position play. Just another poundpup.

Any thoughts?
 
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Check out the history of this Company and the characters running it - I wouldn't invest someone else money on it. Even if it wins the court case there won't be anything for the ordinary mum & dad shareholders, it had been diluted like hell. Millions of shares had been issued to "special" shareholders who happen to share the same surnames. Check out the number of shares on issue, billions!!!
 
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Check out the history of this Company and the characters running it - I wouldn't invest someone else money on it. Even if it wins the court case there won't be anything for the ordinary mum & dad shareholders, it had been diluted like hell. Millions of shares had been issued to "special" shareholders who happen to share the same surnames. Check out the number of shares on issue, billions!!!

Knows all about this dodgy bunch, thx for your concern...been trading it on and off for years......win some/lose some

Never mentioned investing ... TRADING personally couldnt give a hoot on there grand plans and Bennys tales of wonder.

I beg to differ.... mmmmmm research current market cap then take a VERY lowball figure IF they get a payout.. kinda fits in for a bit of leeway on where it can travel.

lol no different to any other dodgy poundpup out there Except this one might get given some cash to blow because of there tenacity.

by the way sure chugged along well again today.

THIS IS NOT AN INVESTMENT STOCK FOR ME . MERELY A TRADE WHICH I WILL DROP AT ANY GIVEN MO OR TAKE A SKIM AND RIDE A FREE CARRY.

in at 2.4 so more than happy with its performance so far

See quite a bit of bitterness by some throughout the internet regarding this stock but hey ....... touch it , dont touch it.........who cares ......i just following and placing myself in da action.

Could always buy a blue chip like BNB or something and have your money in a "safe" stock :D
 
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P.S

Starstruck traders that have riches in there eyes but no experience with these dodgy tinpot plays, SHOULD be at one with taking a loss before they even look at it.

lol but that also goes with every other stock in the ASX also.

But you know this :)
 
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Nun, I don't disagree with you. CHM is not an investment stock but can be rewarding if you know when to pump and when to dump!!! Definately not a play for beginners. Tomorrow we will find out who the winner is. My bet is CHM will get something but nowhere near what they are hoping for,m bit like the seuxual harressment suit just settled yesterday....sue for $37m settled for less than a miliion and after the lawyers she may end up with just a few hundred thousand. Not a bad day's work. But who will employ her now? Might as well stay at home and make babies.
 
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Will we see a dump on CHM shares when they resume trading? IMO, most probably. I am sure MMX will resume trading long before CHM. I reckon CHM is now in damage control before releasing more information.
 
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Will we see a dump on CHM shares when they resume trading? IMO, most probably. I am sure MMX will resume trading long before CHM. I reckon CHM is now in damage control before releasing more information.

UH?

do you have the court proceeding results before they have been released ?

Neither company has released anything apart from trading halt as yet as released of last night

damage control?

personally think you are a lil jaded on this stock ...you been bitten by them in the past?
 
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20 Oct 2010 13:52 ! Chameleon Wins Murchison Litigation:Awaits Account of Profit

:D Bless these lil dodgy buggas to bits i say :D

should be an intresting re-open....
 
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:D worth a read for some facts instead of internet heresay for a change........
 

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Hehehe....happy days are here again for MMX holders. The results are much better than hoped for. The newspapers have already interpreted the judgement in favour of MMX. CHM had declared a hollow victory....ASX where are you??? I thought ramping is not encouraged?

Sorry Nun but you are on free carry anyway, right?
 
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Hehehe....happy days are here again for MMX holders. The results are much better than hoped for. The newspapers have already interpreted the judgement in favour of MMX. CHM had declared a hollow victory....ASX where are you??? I thought ramping is not encouraged?

Sorry Nun but you are on free carry anyway, right?

Exited at 3.3 on open re-entered at 2.3 ( closed at 2.1 )

This is from the media ... dont look to favourable for MMX in this article ....

Pretty sure "de-ramping " is not too favourable .. how about some facts m8?

CHAMELEON Mining is poised for a big pay day after it claimed victory in its three-year legal stoush against Murchison Metals over a multi-billion dollar Mid West iron project.
The Federal Court today ruled in Chameleon’s favour, saying the company is allowed to claim a portion of the profits from Murchison’s flagship asset, the Jack Hills iron ore operation in the Mid West region of WA.

The Court found Murchison had used $227,840 it received from Chameleon, through de facto director Phillip Grimaldi, to buy the iron ore asset – then called the Iron Jack project - which was bought for $1.16 million in 2004.

The mine produces more than 1.5 million tonnes of iron ore each year. It is run by Crossland Resources, a joint venture between Murchison and Japan’s Mitsubishi Corporation.

Chameleon has previously valued the iron ore mine and tenements at around $1.5 billion.

Start of sidebar. Skip to end of sidebar.
.End of sidebar. Return to start of sidebar.
During the legal stoush, Chameleon claimed it was entitled to half of the project and its tenements, however Murchison has consistently denied this, saying the transaction was undertaken prior to the current board taking positions with the miner.

Today the Court found that Murchison had used Chameleon’s funds to “derive an income stream from the exploitation of the Iron Jack project”, and therefore shou

Today the Court found that Murchison had used Chameleon’s funds to “derive an income stream from the exploitation of the Iron Jack project”, and therefore is entitled make a payment to Chameleon.

The judge presiding over the case added that Chameleon will be able to seek a portion of profits from the iron ore operation which it helped pay for, however the amount will need to be determined.

Chameleon managing director Anthony Karam said he was “thrilled” with the court decision today, and the company would hire a forensic accountancy team to assess how much it was entitled to.

http://www.perthnow.com.au/business...ison-iron-stoush/story-e6frg2s3-1225941333922
 
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