Oh dear: who could have predicted this? Okay. I did and the Bulletin Board Morons knew better. Plus ca change. The administrator of the ponzi fraud the 79th Group, Quantuma have announced that it has offloaded 19% of the group equity onto three likely lads, Anthony Charles Harris, Darren Andrew Rowlands and James Charles Ashley Goozee. But that leaves another 11.8% on offer. The lads paid…
This time last year First Class Metals (FCM) was accepting cash from the ponzi fraud The 79th Group AFTER its senior team had already been collared by the Old Bill as I exposed on this website while silly Bloomberg reporters went on another ESG awareness training course. So I suppose an uber aggressive death spiral announced today is an improvement of sorts but it will still crash the share price.
There are three reasons that First Class Metals (FCM) will struggle to do a conventional funding: piss poor early stage assets, a discredited management team and, above all, the massive overhand of shares eld by the administrators of the failed ponzi, the 79th Group. So today it has announced a vicious death spiral to keep the lights on and allow a token amount of drilling.
The Times is today reporting that the FCA first reported its suspicions that the 79th Group was a ponzi fraud to law enforcement agencies eight months before it collapsed in May 2025 with a black hole of 200 million quid emerging. That means that by September or October last year it knew that the 79th was a con. However…
Finally First Class Metals (FCM) has finally issued an RNS confirming my breaking news earlier that the ponzi fraud 79th Group has gone into administration. If only it had done due diligence before taking its cash and appointing its chairman, now on Police bail, as its chairman.. First says it is also talking to other funders which is good as it is technically insolvent with net current assets of MINUS £300,000 and is burning cash. But who'd want to invest with the administrator now seeking to realise a 41% stock overhang? By way of backstory...
Late last night First Class Metals (FCM) snuck out its calendar 2024 results at no-one is watching O’Clock. Quite simply it was an exercise in denial regarding the ponzi fraud the 79th Group, its 41% shareholder. First Class opines:
Like the most deluded of Bulletin Board Morons, LSE asylum bien pensant Jonnieboy thinks that I either waste my time posting under false names on chatrooms or waste my money paying others to do my dirty work for me. He also thinks that sites behind paywalls operate on a clickbait basis. I use the word think generously as Jonnieboy is clearly very stupid and hanging onto his First Class Metals (FCM) after my latest expose HERE is just asking for poverty. The lunatic posts:
The amazing thing is that David Webster, the founder of ponzi fraud the 79th Group had been arrested as part of Operation Mold BEFORE he was appointed as chairman of First Class Metals (FCM), First’s board knew this as did scumbag advisor Novum but they went ahead anyway knowing that without the 79th taking its stake to 50% via a placing at 1.7p, First was bust. Today, after the weekend revelations on this website, Webster has resigned with immediate effect.
If my company had just secured funding for high risk very early stage exploration activity and I discovered that the cash had come from financially naïve marks who thought that they were investing in a safe bond with capital guaranteed and paying 15% interest, I’d not be able to sleep at night. But James Knowles, MD of First Class Metals (FCM) is morally bankrupt. And he is now shown also to be a liar.
Quoting someone making a comment on a Bulletin Board as a reason to buy shares in your company is quite remarkable. Perhaps this CEO does not realise that Bulletin Board Morons are not exactly qualified asset managers? But there is worse.
The bottom tweet is from a keen shareholder in First Class Metals (FCM) He has not read my articles about the Police raids at 79th Group, the clear maths that show its a fraudulent ponzi or the hidden £43 million losses yet makes his views on me clear. But arguably a second tweet showing First's MD James Knowles privately communicating with his demented shareholder shows Knowles to be an even bigger moron
The world of small cap mining exploration is used to scandal. Knaves abound as advisors, financiers and directors. But even grizzled veterans of this scene where shocked and aghast at the First Class Metals (FCM)/ 79th Group scandal exposed HERE last night. So who are the chaps who promise naive investors a safe bond yielding 15% and ten put the cash into shit like First Class? The Webster family own the business but meet the team…
It takes a lot to shock me but events today at First Class Metals (FCM) on the main market are just so truly appalling that I cannot see h9w advisor Novum has allowed a shambles like this to occur. Where on earth is the FCA?
