mood of the board has become less positive, page-6

I agree that it is just simply a process that takes time. And it will be well worth it rather than just releasing anything for the sake of releasing something. Remember that ASIC is keeping an eyes on these U explorers. Read the article below. I would rather AEX do it right.

Cheers.

Don't know if any of you read this following article. As you can see, it is certainly wise to cross check the results before releasing to public. Nothing worse than if it is really good results only to be questioned which could put a dampener on the sp, just like CDU.

Cheers.

http://www.smh.com.au/news/business/asic-has-eye-on-bullish-miners/2006/10/05/1159641459518.html

ASIC has eye on bullish miners
Closer look … Ms O'Donnell.

October 6, 2006

THE Australian Securities and Investments Commission is reviewing disclosure by small and mid-cap miners, worried that some companies are releasing too many bullish announcements to the stock exchange.

"Some might be effectively gilding the lily a bit," ASIC's executive director of compliance, Jennifer O'Donnell, said. "It wouldn't be appropriate for us to name companies at this stage. It is just risk indicators."

A review of 449 small and mid-cap miners found that about 4 per cent - or about 18 companies - demonstrated disclosure patterns that were potentially troubling.

Warning signs included extremely frequent announcements to the stock exchange which were followed by significant share price increases.

"A lot of people have mentioned to us the CuDeco matter," Ms O'Donnell said, referring to the rapid share price rise of the Queensland copper explorer which frequently released announcements to the stock exchange.

But she declined to reveal whether CuDeco was one of the companies flagged during ASIC's initial review, which is also looking into share trading by directors.

After conducting its initial survey, ASIC will now review releases to the stock exchange from the 18 or so miners it flagged to assess whether further inquiries are warranted.

"It may well be that in a number of cases there may be valid reasons for [the high number of announcements]," Ms O'Donnell said. "It might be that we check all of these announcements and there is no mischief."

ASIC is also interested in investigating the biotech and energy sectors, which have similar speculative characteristics to the mining sector.

Ms O'Donnell said ASIC did not have a problem with companies releasing positive announcements. But she added there was sometimes a fine line between positive spin and deceptive conduct.

"It's when they say all the positives and leave out some of the negatives and the risks," Ms O'Donnell said. "Overselling, if you'd like."

The corporate regulator also revealed it had forced three uranium companies to change their prospectuses before they were released to potential investors due to inadequate disclosure about regulatory policies on uranium mining. ASIC added it had conducted nine surveillance operations on companies with uranium interests to ensure they complied with continuous disclosure obligations.