This is unbelievable.To think that the operators of this company...

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thord

300 Posts.

12/07/14

15:40

Post #: 13650226
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Originally posted by Ptolemic ↑

I am not a lawyer but a lack of proper auditing of Enron brought down Arthur Anderson. Clearly MAD is not going to bring down its auditor but that doesn't mean shareholders don't have a claim.....similarly with paid/free research by various analysts (e.g. Stockanalysis) and RBS Morgans where the analysts were holding stock while writing "research", RBS Morgans staff were on the board and they were doing all the raisings.

They state the share placements went to sophisticated investors and institutions. The people who asked me about it (i.e. it was marketed to them) must only just have scraped through the sophisticated investor criteria, and if I had bought and feel that I didn't meet those criteria I would certainly be raising it with the broker.

Better ways to get attention than ASIC, seems like many regulators they only react when it has so much public attention they have to explain why they are not doing anything.

For reference I think this is about fair value now (though I believe there are further reserves reductions to come) but I query that when the last raising was done at 31c there was not sufficient information out there to say a 30% reduction was highly likely.

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This is unbelievable.To think that the operators of this company could keep trading under the original recoverable oil figures who knows what the new reduction will be.Im a retail trader that can only go on what is presented to me.

I spoke to this company on a regular basis and held onto my shares because nothing was ever inferred that reserves may be down graded.I asked about this on more than one occasion.
I also bought more shares on Yeagers quote of 'DOUBLING PRODUCTION IN TWELVE MONTHS"
Does anyone think I have a legal avenue here.?
Im not sooking, my life is in tatters because of my investement in this company.

FDM Price at posting: 18.0¢ Sentiment: None Disclosure: Held
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This is unbelievable.To think that the operators of this company...

Top Stories

Uranium prices on the NYMEX are stable, but ASX uranium stocks are sinking on Friday. The answer lies in Kazakhstan

Collaboration in a green (steel) future the focus for Magnum and Saudi partners

Westgold sets its sights on top five producer status through merger with Karora

Vmoto sales plummet -50% YoY as weak demand in Europe & China stifles EV scooter sales growth

Venture to sniff out high-grade REE targets at Jupiter project, WA

GreenX picks up prospective copper project in Germany

Cost blow-out for Rook I uranium project sees share plummet for NexGen

Commodity house Trafigura funds Develop Global's copper-zinc Woodlawn play with offtake deal in place

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