Good on you Transit re following up with ASX/ASIC via the lodgement form. I did so with another stock a while back and having got the automated "thankyou" reply very promptly, I was subsequently surprised some days later to see ASX / ASIC follow up with a Please Explain to the company in question. So even though we are not big players, things get followed up if it appears merited, which in the case of KNL it is. I dont know what eventually happened with my complaint after the company had come back with a response that really openened up more questions than it answered, but at least it put them on notice to be very diligent in the future. I lost dough but felt a bit better in that a signal had been given we won't take things lying down.
I can't for the life of me figure out whats happened at KNL and with 25 years trading I've seen a lot, but this one really has me stumped trying to reconcile the visual reports with the assays. I do note that if you track back a few announcements that even Spinks topped up recently with I think it was around 80000 shares in the 40+ cents range, so he's suffering like us and dare I say, must have been as confident as us that KNL were onto something big. I will be intrigued to see what comes out in the washup if an investigation is carried out, but one way or another some heads are going to roll. I still hold a swag but am not at all confident that the awaited assays will turn this ship around even if they came up with a SYR result as management credibility has been utterly shredded, and who will beleive anything thats announced in the future. And I cant imagine the ferocity festering up in those sophisticated investors who took up the recent placement. Maybe we are as sophisicated or unsophisticated as they are !!
KNL Price at posting:
13.5¢ Sentiment: Hold Disclosure: Held
