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     ingot54
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Username: ingot54
Post Number: 2082
Registered: 05-2004
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| | Monday, January 14, 2008 - 04:35 pm: |  
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My wife received a letter from a Mr David Zohar dated 8th January 2008.
In this letter, this Mr David Zohar advises the following:
"Please also note we have reserved an allocation for you of $7,500 (for 25,000 shares and 12,500 free attaching options) subject to an early reply, stock available and completion of the Prospectus application form."
The letter is offering stock and options in EagleNickel Ltd and is signed "David Zohar Director".
I am wondering if others have received such a letter, and I am faxing a copy to you Colin before I make further statements about this.
The questions this raises are these:
Does Mr David Zohar have my wife's name on his data base, and if so, how did it get there? As far as she can remember she has never requested information of this nature from any source.
How is it that a letter arrived last year concerning IRON MOUNTAIN MINING, which was also a letter originating from Mr David Zohar, and for which there is no recollection of a request for such information?
Have others received such letters, and if so, did they request this information?
As mentioned, the offer is for several thousand dollars worth of stock and options, and this is not small change. Somehow or other, Mr David Zohar feels comfortable to rfer to my wife in this way:
As a preferred investor, or shareholder in one of our director associated successful companies ...
I think I would like to understand where this information is coming from.
Anyone else receive one of these offers?
Was yours solicited or not?
(Message edited by ingot54 on January 14, 2008)
Keep Smiling - Don't look back
Hell, there are no rules here - we're trying to accomplish something ~ Thomas A. Edison
Never believe that a few caring people can't change the world. For, indeed, that's all who ever have ~ Margaret Mead
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smallworld
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Username: smallworld
Post Number: 731
Registered: 01-2004Rating: N/A
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| | Monday, January 14, 2008 - 06:28 pm: |
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Ingot54
A trip to google with David zohar reveal some interesting info. there is no confirmation all these info are from the same person
1. ASIC has an injunction against Swancove Entreprises and a Mr David Zohar peventing thme from operating an unlicensed financial services business. These proceedings follow an ASIC investigation into written advertisements containing recommendations intended to influence people to acquire shares in Red River Resources Limited, Corella Oil Limited and Australian Biogen Limited. Mr Zohar is a director of these companies. Between July 2003 and August 2004, Swancove used a bulk mailing company to send unsolicited letters to over 55,000 persons offering shares in the companies
2. David Zohar is listed as the executive director of Red River resources RVR, closing at an uninspiring 19c today with a november top of 67c in Nov.
3. A Mr David Zohar was a director of Silver Rose Mining as well as a director in Australian Metallic Resources 1998 to 2000. Both were understood to be ASX listed. Haven't checked if they still are.
4. A Mr David Zohar was reportedly involved in the fund raising of Rosella Creek Mining and/or Aluminex Resources Ltd. Neither of that is listed on ASX.
5. An article was on the West Australian 1/12/2005 by Michael Weir titled Promoter Back in Spotlight. the article is not the web site anymore. but here is a copy
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Promoter back in spotlight
MICHAEL WEIR
1 December 2005
The West Australian
Australia's corporate watchdog is investigating a fresh complaint about company promoter David Zohar, less than three months after the Red River Resources director was hit with a permanent injunction that prevents him operating an unlicensed financial services business.
The complaint centres on letters sent by the former Fortuna Gold boss to shareholders of Red River and other related companies offering seed capital in another venture, Greenpower Products, of which he is also a director.
The move comes during a turbulent week for Red River which has seen the resignation of two directors, including the chairman, after they raised concerns about lax corporate governance.
The Australian Securities & Investments Commission refused to comment yesterday but it is understood the regulator is reviewing the complaint.
Mr Zohar's Greenpower letter invited prospective investors to buy $20,000 of seed capital at 10<cents> a share, saying a prospectus was being prepared to float the company mid-next year at 20<cents> a share.
"You are probably aware seed capital investors in Red River bought shares at a big discount to the issue price in the prospectus leading many who sold on ASX to make profits of 250 per cent or greater," he wrote.
In September, ASIC obtained a permanent injunction, by consent, against Mr Zohar and his private company, Swancove Enterprises Pty Ltd, stopping them from trying to sell shares without an Australian financial services licence.
ASIC found Swancove sent unsolicited letters to more than 55,000 people offering shares in Red River and two other Zohar-related companies, Corella Oil and Australian Biogen.
Mr Zohar told WestBusiness yesterday he had done nothing wrong because the letter had been sent on Greenpower letterhead, not by Swancove. He was also able to use the Red River share register to source investors for Greenpower because he was a director of ~both.
"As far as I know if someone has subscribed to your company of which you are a director, you are entitled then to ask them for subscription to another company of which you are also a director," he said. "Cold calling is not acceptable."
Red River chairman Alan Flavelle quit the board of the explorer, which listed in July, at the end of Monday's annual meeting and was closely followed by non-executive director and former TV newsreader Peter Waltham.
A copy of his resignation letter, seen by WestBusiness, said he had resigned because of the "continual and ongoing difficulty I have had in maintaining within the board an acceptable level of corporate governance".
He said executive directors who were also major shareholders objected to his efforts to improve corporate governance and threatened to vote him off the board at the annual meeting.
Mr Waltham's letter said he quit on the back of Mr Flavelle's resignation and also because "I found I could not work with one of the executive directors".
Red River managing director John Karajas, who together with Mr Zohar are the company's two biggest shareholders, said some corporate governance issues "could have been handled better" regarding a proposed joint venture deal on Red River's Bungalow Well uranium project with a company connected with the two executive directors.
But he said "a fairly substantial part of our shareholder base" was not impressed with the two ex-directors and preferred they resigned.
6. a Mr David Zohar is the company Secretary of an West Australian Biotech company Actinogen (ACW). ACW was floated on 16/10/07 debuted at 52.5 c and is now selling at a very cheap 23 cents with no trades on most days
7. Chairman of Uranium Oil and Gas UOG.
This is only the first page. there are 10 pages of it on Goggle, of course I cant be sure if it is the same Mr David Zohar.
But another thing they all share in common is the Street Address: Level 11, 16 St Georges Terrace
It is the head Office of ACW, It is also the stree address of the Solicitors to UOG Mr Lawton Gillon. Mr Lawton Gillon is also the Solicitor of RVR. Of course it is the head office of IRM as well
Suggest Ingot take your piece of paper to ASIC.
Rugby is just a game, it isnt a matter of life or death, it is more important than that
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ingot54
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Username: ingot54
Post Number: 2083
Registered: 05-2004
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| | Monday, January 14, 2008 - 07:17 pm: |
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I have found that this is not a new company at all.
It was formerly known as Uranium and Nickel Limited and the latest notice published is from 21/12/2007 "7109 Notice of Extension of Exposure Period" of which I know nothing.
Sounds like they need more time to expose the public to their product... is this correct?
Keep Smiling - Don't look back
Hell, there are no rules here - we're trying to accomplish something ~ Thomas A. Edison
Never believe that a few caring people can't change the world. For, indeed, that's all who ever have ~ Margaret Mead
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colin_twiggs
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Username: colin_twiggs
Post Number: 3088
Registered: 09-2002Rating: N/A
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| | Tuesday, January 15, 2008 - 09:13 am: |
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Ivan,
Is your wife, or has she ever been, a shareholder of either Red River Resources or Iron Mountain Mining? If not, then she should not have been sent the letter.
Have any other readers received similar letters?
Regards,
Colin
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colin_twiggs
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Username: colin_twiggs
Post Number: 3089
Registered: 09-2002Rating: N/A
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| | Tuesday, January 15, 2008 - 09:16 am: |
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I suggest that you refer the letters to ASIC if they are unsolicited.
Regards,
Colin
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ingot54
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Username: ingot54
Post Number: 2085
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| | Tuesday, January 15, 2008 - 11:04 am: |
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I have emailed ASIC about this.
Response pending...
To answer your question Colin:
My wife is basically not a shares-oriented person, and to her best recollection (ie no memory at all of such an inquiry) has never heard of any of Iron Mountain Mining Limited, Red River Resources, or Eagle Nickel Limited.
She has never been a shareholder of any of the above, and would not know a prospectus from a horse's tail!
Nor is she interested to know the difference!
What she IS interested in is finding out how her name came to be placed on a company data-base (mailing list) of which she has no knowledge and most certainly less interest.
I am hoping ASIC can come up with an answer to this.
I have refrained from contacting the company until ASIC completes its response to my email. After that I will have some support when going in to bat against what appears at this point, to be an unsolicited approach to entice an otherwise naive person (in terms of shares ownership) to purchase stock in an unknown company (regardless of the IPO valuation) which is speculative by nature.
Further - the record and activities of Mr David Zohar has attracted the interest of regulators at the highest level and I note he is claiming RVR and IRM to be "successful companies". I would like further clarification of that terminology "successful" and will be asking the company on what basis they feel comfortable to use this term (successful).
It may be that the definition of success in a speculative venture means the growth returns are better than bank interest.
But it may be the definition need not include a better return than say BHP over the same period.
Keep Smiling - Don't look back
Hell, there are no rules here - we're trying to accomplish something ~ Thomas A. Edison
Never believe that a few caring people can't change the world. For, indeed, that's all who ever have ~ Margaret Mead
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ingot54
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Username: ingot54
Post Number: 2086
Registered: 05-2004
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| | Tuesday, January 15, 2008 - 12:46 pm: |
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Have received a reply from ASIC.
While I will not post all of what they are doing, I will just say the onus is still on the purchaser to beware of what he is getting for his money. At the same time:
it is illegal to mislead or deceive shareholders into accepting an offer. The offer must also comply with strict legal requirements, including the prohibition against misleading or deceptive or unconscionable conduct.
However on reading the response from ASIC it seems they are assuming this is an offer to PURCHASE my shares a la David Tweed style.
I have to clarify with them that this is an offer to SELL shares to prospective purchasers.
BBS
Keep Smiling - Don't look back
Hell, there are no rules here - we're trying to accomplish something ~ Thomas A. Edison
Never believe that a few caring people can't change the world. For, indeed, that's all who ever have ~ Margaret Mead
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