is this selling due to opes prime fiasco, page-15

For those that came in late . . .

Average Joe and others you are showing yourself to have average knowledge of the company you have invested in and the circumstances surrounding the Opes Prime collapse . Bashing NM in this instance is absurd. There are a lot of other very clever people caught up in the Opes fiasco.

NM and CJ were instrumental in BMN acquiring the tenements in Africa and subsequent exploration on which this companies fortunes depend. They are not Johnny come lately investors who managed to jump on the board in response to investment clout.

All Opes prime literature, (with the exception of the fine print ANZ is now using to effectively take over peoples share holdings) suggested it was essentially a margin loan agreement and that their securities were only to be used as collateral for the loans. Investors had no idea that their securities could be lent to shorters. Furthermore, NM has stated he had not had a call on his loans.

This from the ASLA code:

Please note that the words “lending”, “borrowing”, “collateral” and related expressions used in this code reflect market terminology only. Under Australian law, full title to securities “borrowed” or “lent” or “collateral” provided passes from one party to another, the party obtaining title being
obliged to deliver back equivalent securities/collateral.

There are a lot of unhappy investors in OPES at the moment, and current circumstances could not have been foreseen.

It's time to stop bashing one of the guys who has been instrumental in the rise of BMN at a time when he has suffered a massive misfortune that he has every right to argue he could not have foreseen occurring.