Australian (ASX) Stock Market Forum

OLY - Olympio Metals

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Why do people fall for these frauds? No wonder companies keep trying it on, there seems to be an endless line of retail 'investors' ready to throw money at the scams.
 
Thanks for the notice of the updates.

Wow, OMG.:eek: I hope ASIC and the ASX nail their hides to the shed.
Thank @frugal.rock for posting the weather news.

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Released: 20/12/2019

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Just a note:
I do or did not own..i think..
I just had a read of the thread history and recommend people involved with shares there do it
It is easy in retrospective byt this is really a rat imho
I read announcement talking of them trying to find genetics suiting the land climate etc
We are talking hemp
This is NOT a new crop FFS
Any hippy or farmer can tell you which type will grow well here ir there
There was so much BS..looks like a management board going farming in their SUV with brand new straw hats
Anyway i recommend people read the history to see how wrong it is
And i know it is always easier in hindsight, and i understand any of my system could have picked it too but no way a value investor should not beware
 
I remember the ASX putting questions to Steven Silver re FINRA violations in the US.
There's a name people should look into and remember.
I did hold, but dumped at small loss when it started to decline.
Now, the ASX has suspended trading pending responses.
That rat I smelt is even smellier.
I wouldn't think a frost would destroy CBD levels?, but would definitely kill the plant.
Late into the harvest, makes me think past the 50% mark, they should have got half of the harvest at good CBD rates from what I gather, unless the CBD rates were never going to get there in the first place.
F.Rock
 
What a putrid outcome for investors that still hold.
From their ASX aware questions/ answers released today, I still smell a rat.
Right from the start, I considered that they seemed to be planting late in the season. Frost and mould DO NOT contribute to a lower CBD level, however plants not reaching full maturity does!
Any seasoned hemp grower knows that the CBD potency levels are exponentially rising during the flowering period. What a bunch of morons.
This one is on my DUDS watchlist.
F.Rock
 
Always disappointing when the truth is drip fed at the Investors expense:mad:

I don't hold this, but I've held plenty where poor Management has been very costly. Quality management is now one of my most important rules for "investment" in anything longer term than a week or so.

Perhaps all is not lost for CLI though ….. It is currently trading down to the Range from 10 months ago where traders got very interested ……. Price action for the next few weeks should be telling.

Hopefully picture 1 is not the eventual scenario:eek:

Sinking.jpg


CLI 13Jan2020.jpg
 
As @frugal.rock said mould and frost will kill plants reducing biomass and CBD over all yield. I think one of the reasons the harvest wasn't done in a timely fashion is that they were hand trimming it as seen in @peter2 post, its 2020 for goodness sake this could have been at least partially automated for less than 10k!

Seriously most of these pot companies are akin to the dot.com companies, set up by people with no industry knowledge or experience just trying to jump on a hot market idea. At the end of the day this is a commodity plant and will end up being priced accordingly as retail prices will only go lower as decriminalisation and legalisation progress's and supply increases.

I have a CBD vape here in Japan, as they are legal here, and the benefit:cost is debatable at best.

Theres only two types of companies worth buying the guys who will be the B.A.T.s or Lion Nathan type companies buying up brands and mass producing and the niche market producers.

Right now this whole sector is 95% ROT imo.
 
peter2 said:
@barney How the heck are you going to assess the quality of a CEO and board?
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Just checking Pete … Do you mean this Company or in general?

If this Company … I have no idea, I have not been following them.

However, if a Stock I have been following ….

Their previous experience and credentials. Do you not take that into consideration?
 
" all is not lost for CLI though ….. It is currently trading down to the Range from 10 months ago where traders got very interested ……. Price action for the next few weeks should be telling."
Am I missing something here @barney ?
They have been suspended from trading (voluntary) since around mid November... when they do resume quotation, picture 1 IS the likely scenario, if it isn't, the rat just continues to get smellier... even dead rats wriggle when swarming with maggots...
Still glad I took a loss on this one.
F.Rock
 
frugal.rock said:
I remember the ASX putting questions to Steven Silver re FINRA violations in the US.
There's a name people should look into and remember.

F.Rock
Click to expand...
Steven Silver, one of the director's...
I ignored this somewhere at the time, however the ASX can't really announce "don't invest", they just pointed out the facts.
F.Rock
 
frugal.rock said:
" all is not lost for CLI though ….. It is currently trading down to the Range from 10 months ago where traders got very interested ……. Price action for the next few weeks should be telling."
Am I missing something here @barney ?
They have been suspended from trading (voluntary) since around mid November... when they do resume quotation, picture 1 IS the likely scenario, if it isn't, the rat just continues to get smellier... even dead rats wriggle when swarming with maggots...
Still glad I took a loss on this one.
F.Rock
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LOL …. I was just trying to add some commentary and didn't even realize their "suspension" period:confused:

No problem … I will retreat to my day job and stop posting cr@p;)

ps … don't write off the dead cat bounce:p
 
galumay said:
Why do people fall for these frauds? No wonder companies keep trying it on, there seems to be an endless line of retail 'investors' ready to throw money at the scams.
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Took another 6 months, but CLI is dead now, sorry for those that lost capital, but the writing was on the wall right from the start.
 
galumay said:
Took another 6 months, but CLI is dead now, sorry for those that lost capital, but the writing was on the wall right from the start.
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Just a shame your rear vision mirror isn't a windscreen manufactured in August 2017? You might have made some money...
 
HelloU said:
....... with summer just around the corner it's nearly time for a wardrobe change .... long pants off, short pants on.
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Never good seeing people lose money on belly up companies, but have to compliment this post from @HelloU which would have saved holders all the grief in the world.

Called the absolute top in August last year. Great call:xyxthumbs
 
barney said:
which would have saved holders all the grief in the world.
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ASX not allowing frauds like this to list would have saved everyone who ever put a cent into it from losing capital. They knew right from the IPO that there were serious issues, but chose to ignore.
 
galumay said:
ASX not allowing frauds like this to list would have saved everyone who ever put a cent into it from losing capital. They knew right from the IPO that there were serious issues, but chose to ignore.
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Complete rubbish. If you knew they knew, then why didn’t you say so right from the IPO?
You ride a fine line with your comments from a legal sense.
All hiding behind a pseudonym of course....
 
On May 12th, 2022, Croplogic Limited (CLI) changed its name and ASX code to Olympio Metals Limited (OLY).
 
Clansman said:
All hiding behind a pseudonym of course....
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lol

last gasp ....
Dec 2021 ; will acquire a suite of gold exploration assets located in the Goldfields and Halls Creek in Western Australia. CropLogic will raise up to $6,000,000 via re compliance capital raising.

Jan 2022 ; a notice of consolidation of securities. Shareholders will get 1 share for every 160 presently owned

last drinks ....

Feb 2022 ; the company issues a prospectus for an offer of up to 30,000,000 Shares at an issue price of $0.20 per Share to raise up to $6,000,000

....and OUT.
 
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