Ann: South Erregulla Update, page-228

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13/02/24

23:20

Post #: 72391918
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Originally posted by papatee: ↑

Sad, but true.

Anyone with any substantive experience of the kind of dodgy practices that can be effected on companies in the explorer/emerging producer space will know that ASIC are a completely toothless tiger with neither the will nor the resources to seriously look into compliance issues, especially when siad behaviour is originating from the billionaire's club.

They will only be seen to be 'doing something' if the matter relates to one of the absolute top tier of corporate stocks that have extremely high visibility.

Sorry, but anyone who thinks ASIC are going to spend any significant resources/time looking into STX right now is just delusional!!

Should I be proven wrong and ASIC actually investigate and take any substantive actions re recent trading patterns, then I will happily eat my words and take a midday streak down my own street wearing nothing but Spockie's cupcakes to hide my modesty!!!!!!

Having said the above (and standing by it), I actually don't believe there are any smoking guns that ASIC would be able to pin anything on in any event. A lot here today now pointing to the large volume traded the day prior to TH and screaming insider trading, there may be an element of truth to that but I believe it had already been established that this can be attributed to Index balancing activity on entry to ASX200 (this regardless of whether true or not, it's already a credible explanation and for the cynics perhaps a clever cover for anything nefarious that may have been planned).

With regard to STX management and questions re timing of the TH, I don't see anything to suggest other than cautious and prudent measures on observation of general trading activity (feasibly tied into ASX200 entry) combined with awareness of simultaneous complexities arising with the prod test.

Regardless of any/all hypotheticals, ASIC are not coming to anyone's rescue here folks, so just suck it up and soldier on.

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I'd agree that STX had an issue with the flow testing, tried to remediate it over the course of a couple of days, noticed the rise in volume (most of it tied to asx200 entry but possibly not all) and decided to call the halt once they recognised they may not be able to remediate the flow issue.

It's possible that some whispers got out but that happens throughout the mining industry, and almost impossible to prove...

It is also quite a sight to see people turning against SN on the back of one failed appraisal and presumed guilt for allegedly overseeing some sort of organised inside trading scam.

618

STX Price at posting: 31.5¢ Sentiment: Buy Disclosure: Held
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Ann: South Erregulla Update, page-228

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Ann: South Erregulla Update, page-228

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