If you thought Maronans price wasn't suppressed, you will read this evidence and change your mind. If you already thought there was manipulation, you will become even more confident that Maronans price is severely undervalued and this is directly caused by Finclear and Veritas and the companies that Veritas bring on in placements, companies like Jetosea.
I want to put the bare facts in front of you now with just a few examples so that you know how Finclear manipulates the price for Veritas so that Veritas can make money for their affiliates.
The transaction data given to me as a result of my legal action is the holy grail for me. Now I can show you what Ive been talking about all along. And when the company provides the transaction data in excel format rather than PDF format, this will become clearer and clearer to everyone.
Finclear Nominees
Finclear is the third party broker used by Veritas and all their affiliated accounts for executing trades. So any trade executed by a Veritas affiliated account like Mad Fish, Bluestar, Bora Bora Resources, Cavalletta, Rad Rob, Exertus, Australis, Imperium, Indago Assets etc will go through executed as a Finclear trade on the Transactions report. I still see who makes the trade ie whether it is Madfish or Bluestar etc. This is a level up in information from what I previously had access to which only allowed me to see the broker that executed the trade and not the individual company.
When I received the more detailed transactions report, the first thing that stood out was the numerous trades from Finclear Nominees itself. This is some trader that trades with a Finclear Nominees account ie with Finclear clients money. The number of trades done by this Finclear Nominees account is daily and the trading does not appear to be for any commercial value other than to cap the price by selling into retail shareholders and provide exit liquidity for Veritas affiliated accounts. The Finclear account has traded every day from IPO to the May 2024 placement, which adds up to over 1000 trades with volume averaging approximately 40,000 shares a day. Most of the time when a Veritas affiliated account is selling, it is Finclear Nominees that is the buyer.
Veritas affiliated accounts exiting Maronan using Finclear liquidity
Here is an example of how Veritas and the trader using the Finclear account collude to set prices.
On Dec 15, 2023 Bora Bora Resources, a Veritas affiliated account sold 200,000 shares. On the same day Finclear Nominees bought 238,376 shares. On Dec 28 Exertus Capital another Veritas affiliated account sold 70,000 shares. On the same day Finclear Nominees bought 70,000 shares. On Jan 2, 2024 Exertus sold 108,084 shares and on the same day Finclear Nominees bought 108,084 shares. Then on Jan 3 when retail is buying shares, the Veritas affiliated accounts stop selling shares and Finclear switches to selling and sells 108,084 shares.
On Jan 9 Bora Bora sells 62,078 shares and Finclear Nominees buys 62,078 shares. On Jan 15 there are more retail buyers than normal, 15 in total. This is shown on the transactions report as each individual person's name. On that day when 15 'mum and dad' shareholders were buying which is high for an illiquid stock like Maronan, Finclear Nominees sold 183,283 shares. On the next day Jan 16, Bora Bora sold 26,537 shares and Finclear Nominees bought 26,537 shares. Only two retail shareholders bought shares that day.
As a matter of fact, Finclear Nominees is usually always buying when Veritas insiders are selling and on days that retail is buying the Finclear Nominees account is usually always selling. And this is why Maronan's share price has not gone up, even despite the silver price up 100%. This is also how Veritas profit by maintaining an artificial share price.
I could write a hundred pages on all the trades where Veritas accounts have exited in a colluded way with the Finclear Nominees account. It is not just accounts owned by Veritas directors that are doing this.
Malcolm Weber
One account that was selling a lot of shares at the time of the maximum exit price was anaccount named Ashabia Superfund Pty Ltd. An ASIC extract revealed the owner to be MalcolmWeber, an investment advisor at Shaw & Partners.
Weber started selling through his company Ashabia Pty Ltd when theshare price was still up at 38c, on May 25, 2022. On May 25, Ashabia sold 45,446 shares. Thatsame day, Finclear Nominees bought 29,702 shares. On June 1, Ashabia sold 43,870 sharesand Finclear bought 73,870 shares. To be objective, on June 2, both Ashabia (20,020 shares)and Finclear (76,350) are sellers. But then again on june 3, Finclear becomes thebuyer again (72,518 shares) and Ashabia the seller (17,538). There is a period until June 14when Ashabia is absent from trading and on June 14, Ashabia sells 52,442 shares and Finclearbuys 52,442 shares.
There is a break in Ashabia selling until June 30 (from Jun 14 - June 30 another associate of Veritas named Nathan Danial Young who was Co-director of Bora Bora Resources with Piers Reynolds was the largest seller)
Then on June 30 Ashabia sells 33,786 shares while Finclear buys 33,786 shares. On July 11 Ashabia sells 11,085 shares and Finclear Nominees buys 11,085 shares.
Jetosea and how they make money off Maronan
Jetosea was Maronan's third largest shareholder after the IPO behind Red Metal and Crescat Capital with 5 million shares. Technically I would call them fourth largest shareholder when you add up all the Veritas accounts (Mad Fish, Bluestar, Australis etc).
Jetosea sold everything from the time of the IPO until the time of the May 2024 placement. Then they were placed with another 1,480,000 shares in the placement.
On March 9, 2023 Finclear bought 169,677 shares. On this same day, Jetosea sold 169,677 shares. The following day on March 10, Finclear sold 169,677 shares to retail. On March 13, 2023, Jetsosea sold 4561 shares andFinclear Nominees bought 4561 shares. On March 14, Jetosea sells 100,000 shares. On thesame day Finclear Nominees buys 95,439 shares. On March 16, Jetosea sells 241,806 shares and Finclear Nominees buys 241,806 shares. This happens continuously all throughout the entire period of Jetosea selling 5 million shares. Finclear Nominees is nearly always the buyer of Jetosea's selling and the volumes very often match.
Whoever is trading and setting the prices using the Finclear Nominees account is an accomplice of Veritas and Jetosea, these three are artificially setting and maintaining prices in Maronan together."
It's outrageous that an individual shareholder has to take such action in order to achieve market fairness and justice for shareholders.
If anyone has an inclination to help details of his crowd funding appeal are as follows;
Dear ASX Investor
I NEED FUNDS TO CONTINUE MY FEDERAL COURT CASE!!!My case against Maronan Metals and their broker Veritas is going extremely well, the opposition is in a complete shambles and contradicting what they say but I need to keep things going. This court case could be bigger than Mabo and stop brokers from manipulating prices which is the reason why many ASX companies never go up in share price.
My lawyer says he can run a good court case with $15,000 for this next stage. So far I have raised $6,500 and $5000 of that has been my own money. Just to let you know this is stage two. Stage 1 we raised $15,000 from Maronan shareholders.
While it has probably cost us $30,000 from the beginning to the end of this stage doing it on a budget , Maronan would have spent over $100,000 now and they are claiming costs from me meaning they will be asking me to pay if I lose. If I lose it will be an injustice because their broker manipulates the price and blind freddy can see it.
Here is the website about my Federal Court case
As part of legal proceedings I have been given all the transaction data for the last three years and I have written a report about all the manipulation which if you read the report, you will find very clear is collusion and manipulation. This is also not a proper analysis because they refuse the supply the trading data in an analysable format. Its password protected in PDF. We have an analyst ready to be employed for this job.
Thousands of Australian investors see the best resource stocks they invest in do terribly with the share price and then they get taken over by big companies like Glencore all because of this manipulation,
This is a very worthy cause.If the case is won,it will provide a precedent for any subsequent discovery action by shareholders. I for one, would love to see whose been actively attacking our share price. HRZ Board members please take note. Whatever plans there are in the pipe line for the Company,you make sure EVERYBODY benefits.
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