re: Ann: Excellent drilling results from Mt M... Good Morning -...

re: Ann: Excellent drilling results from Mt M...
Good Morning - BionicBoy

Totally agree with your posting

What is so disgusting that I never come across a company in 30 yrs of trading that the company issued new shares at 1.6c on the day of good announcement and only to find extreme/obvious profit-takings at whatever sp above 1.6c.

ASIC/ASX should investigate and prosecute those that sold new shares that yet to be paid & issued - I am very sure this disgusting practise definitely ocurred - if the company is clean, they should now delay issuing the new shares, resulting a buy-back rush. At the end of the day, all involved must be prosecuted severely for such illegally practises (if so occurred)

The other thing is that existing shareholders can buy up to $15k @ 1.6c - will definitely not get the full allotment as those who bought/subscribed in Mrch 09, will also have the same right to buy (even if they have sold out !). I have never come across the latter practise (previous buyer of new shares given the right to further new issues)

Existing shareholders (not sold yesterday) and those who bought in yesterday will maybe greatly disadvantage by the "unethenical practises" by the company - this is implied by the obvious dumping of shares at whatever prices and those guys seem to own new shares at 1.6c

Question now is whether those sold out yesterday (dumped) - have actually paid & have shares - ASIC + ASX will be welcome to investigate & prosecute whoever is involved !!!

AoA