For the incident being referred to, somewhere between totally...

For the incident being referred to, somewhere between totally incompetent and fraud is about right IMO. Some time after the event I posted something along those lines and got sin-binned for it. Fair enough, but at that time I probably would have welcomed the challenge in a court to find out exactly what happened. I still have never read of any explanation. There is no accountability. At the very least one might expect the person who signed off on it as a "competent person" may have been stripped of their AUSIMM membership. Given ASIC's apparent unwillingness to use this opportunity to encourage a clean game, one is only left to wonder what the truth of it all was.

As it sits it is a good lesson to sharpen a critical mind for anyone entering junior explorer stocks.