KCN 3.23% $1.80 kingsgate consolidated limited.

Is management causing the red numbers (got shareholders their...

  1. 270 Posts.
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    Is management causing the red numbers (got shareholders their mine back, opened and into production as quickly and cheaply as possible, plant 1 refurbishment funded by plant 2 profits, every ML they could possibly want (I am expecting revised LOM to crack the half century!) and the whole operation firing Q1 2024 (4 months away) being supercharged by the until now dreamed of hallowed ore of the Quartz lease….And the share price has tanked. Management didn’t let you down. ASIC and the ASX let all retail investors down by deliberately not enforcing the relevant laws. I know it is deliberate, because when asked direct questions they simply say “we can’t give you an answer to that question”. Questions around all the brokers being in the same office as the ASX (flash tra ding doesn’t exist, it’s just a coincidence!), why are algorithmic trades treated in aggregate over the day when no retail investor is afforded this treatment? Retail investors have no visibility of dark pools? After a few of these questions you get the feeling that ASIC are simply corrupt.I am having an epiphany here….We have a child with a disability who receives funding from the NDIS. A few years ago her annual budget was slashed by almost 70% without any warning or explanation (change in legislation, budget cuts etc). Imagine if your salary was slashed 70% from one day to the next without explanation… hence we requested for her case to be reviewed. We were told by the NDIS (they review their own decisions) that they were correct in reducing her budget as our daughter wasn’t entitled to the level of funding she received in prior years. But since nothing had changed, could the NDIS explain why our daughter used to qualify but now did not? They couldn’t, and our questions went unanswered or answers given by the NDIS were factually wrong. Best was when they alleged that the leading expert in the southern hemisphere for our daughter’s condition was wrong in his recommendations (what qualifications does the officer in the NDIS have to be able to make such a statement?) Hence we requested a second review. Second Review was also turned down by the NDIS. We then took the NDIS to the Administrative Appeals Tribunal where we then liaised with a Commonwealth solicitor acting on behalf of the NDIS…who on the morning of our case being heard said, “we have no case, here’s your daughter’s allocated budget in full”. The NDIS had lied directly to their own participants with a disability because the Government had apparently instructed them to rein in costs due to the blowout in the NDIS funding requirements that they hadn’t seen coming. I say “we” above but fighting the NDIS was virtually single handedly run by my boss and took nearly a year to get the outcome we deserved. Nod to the boss. Most families with a disabled child haven’t got the means or tenacity to fight the NDIS, and when a government entity says they are right and you are wrong, who wouldn’t take them at their word? ME. I am having a Deja Vu, where I don’t trust ASIC or the ASX one iota. The market is fair, orderly and transparent. It wasn’t flash trading when the shares I tried to buy jumped up ahead of my trading password refreshing and ran off a few cents into the distance being chaperoned by a couple of token single digit buy and sell orders. “That’s just high frequency trading” I was told, “nothing illegal here, HFT happens all the time”, it’s just a coincidence that it seems like that those shares were pulled before my order was placed. Are ASIC going to investigate the number of brokers located in the same building as the ASX….”we can’t comment on that”. The best part was when the criminal barrister from my brains trust (the only person on the call with any legal qualifications whatsoever, let alone having spent any meaningful time in a courtroom)….was told he was wrong on points of law regarding s1041 of the corps act! This is someone who has been inside a gaol cell with Chopper Reed and Alphonse Gangitano. His response was “Isn’t that for a jury to decide?” to which ASIC had no answer. These are just a few examples where ASIC either refuse to answer/can’t comment on the question or give a BS response - ASIC refuse to consider the High Court of Australia’s decision in DPP v JM 2013 despite it being the leading common law case around artificial pricing. “We don’t look at that”. I think I might receive different answers Romy questions if asked as part of a class action.Time for the Knack to become familiar with ASIC‘s org chart.
    Denial, if there was a proper answer to my questions, why not give it?
 
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Last trade - 16.10pm 17/05/2024 (20 minute delay) ?
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