FFX (ASX) Ann: Chairman's letter to shareholders

Originally posted by ozblue: ↑

My understanding of half yearly reports is that the auditor only 'reviews' it and it doesn't have a full audit, so much less onerous requirements for the half yearly. How this difference works in the real world, I have no idea..

I very much doubt that investigations from authorities like ASIC/ASX are even happening. Yes they take all the complaints 'on board', but seem to not do very much.

As an example a listed company that clearly broke the law with potential gaol time for directors happened a couple of years ago, failure to hold an AGM, within the time limits provided by law, that is considered to be the highest priority according to ASIC literature. There were lots of complaints to ASIC about it, yet because the company did eventually have one covering 2 years over a year late, ASIC decided to take no action. Yet the law is very clear cut about the penalties for being too late.

I wrote to the person I was in contact with from ASIC, replying about how can they justify taking no action on clear cut breeches of corporate law, and does this mean all ASIC's other rules and regulations could also be ignored, without worry of penalty?? Of course I received no reply to that...

I could cite lots of examples where we have corporate crooks still operating with extremely dodgy announcements to ASX, clear ripping off listed companies by directors through 'consultancies' and preferential cap raises to companies associated with directors on ridiculously favourable terms etc. ASIC ignores it all.

I have no confidence in any 'authority' even bothering to start an investigation into FFX until they get a complaint from the big end of town, like a bank losing loans or something similar, so no, I don't think the half yearly is being held up due to any type of investigation, it's most likely the other reasons you give.

I suspect the half yearly would show we were clearly non viable long before the end of June so past and current directors should have taken action long before now to reign in spending and hand the keys to Morila to administration..
All IMHO of course...

Expand

Yeah an article that came out recently said less than 1% of complaints get investigated

it'sa shame to think what we could have in terms of Leo shares if we didn't dilute the times we did

EQR

EQ Resources transitions historic Mt Carbine tungsten mine to owner-operator system

Emerald & Azure score Digger & Dealer awards

WNX

Wellnex sees first special access scheme prescriptions for new Wellness Life brand

ARD

Argent begins search for VMS mineralisation at Kempfield Cu-Pb-Zn-Au-Ag play in NSW

M2R

EIS co-funded campaign sees Miramar kick off maiden drilling at Bangemall, Gascoyne WA

VTM

Victory Metals dips -8% even as company set to grow heavy REE resource at North Stanmore

IMD

IMDEX to receive $10M in out-of-court settlement with Boart Longyear over downhole tool patent

SVL

Ann: Chairman's letter to shareholders, page-60

EQ Resources transitions historic Mt Carbine tungsten mine to owner-operator system

Emerald & Azure score Digger & Dealer awards

Wellnex sees first special access scheme prescriptions for new Wellness Life brand

Argent begins search for VMS mineralisation at Kempfield Cu-Pb-Zn-Au-Ag play in NSW

EIS co-funded campaign sees Miramar kick off maiden drilling at Bangemall, Gascoyne WA

Victory Metals dips -8% even as company set to grow heavy REE resource at North Stanmore

IMDEX to receive $10M in out-of-court settlement with Boart Longyear over downhole tool patent

Court of Appeal upholds environmental group's challenge to Silver Mines Ltd's Bowden project

Bitcoin: Current State of Play & Where to Next | Swyftx

Week 33 Wrap: US recession fears forgotten; RBNZ’s surprise rate cut; more iron ore trouble

Featured News

Ann: Chairman's letter to shareholders, page-60

Top Stories

EQ Resources transitions historic Mt Carbine tungsten mine to owner-operator system

Emerald & Azure score Digger & Dealer awards

Wellnex sees first special access scheme prescriptions for new Wellness Life brand

Argent begins search for VMS mineralisation at Kempfield Cu-Pb-Zn-Au-Ag play in NSW

EIS co-funded campaign sees Miramar kick off maiden drilling at Bangemall, Gascoyne WA

Victory Metals dips -8% even as company set to grow heavy REE resource at North Stanmore

IMDEX to receive $10M in out-of-court settlement with Boart Longyear over downhole tool patent

Court of Appeal upholds environmental group's challenge to Silver Mines Ltd's Bowden project

Bitcoin: Current State of Play & Where to Next | Swyftx

Week 33 Wrap: US recession fears forgotten; RBNZ’s surprise rate cut; more iron ore trouble

Featured News