Hey guys, if you missed it, ReconAfrica settled $9.425M with investors over issues tied to unconventional extraction risks in the Kavango area. And, I just found out that they’re accepting claims even though the deadline has passed.
Quick recap: Between 2020 and 2021, ReconAfrica was accused of hiding concerns about unlicensed drilling, illegal testing, improper water usage, and the possibility of using unconventional extraction methods—like fracking—in the fragile Kavango region. Reports also highlighted misleading interpretations of well data, unclear logs, and legal violations that put future licenses at risk. As these revelations surfaced, shares dropped and investors filed a lawsuit for their losses.
Now, the good news is that the company agreed to settle $9.425M with them, and even though the deadline has passed recently, they’re accepting late claims.
So, if you invested in RECAF when all of this happened, you can still check the details and file your claim here.
Anyway, has anyone here invested in RECAF at that time? How much were your losses, if so?
Source: EducationalMango1320