"Bare in mind that this quarterly was not written up this morning , therefore one could assume that all the relevant information may have allready been submitted !!!!!"
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I do NOT think we can make such assumptions. Let me lay out my speculations point-by-point.
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#1. If it was written several days ago, why didn't they delete this misleading information in the quarterly report?
Alternatively, they can insert a footnote stating that all questions have been answered and the paperwork has been submitted on XXX, Jan 2022. Some other companies use this strategy in the quarterly reports to give shareholders the most recent updates.
Unfortunately, there is no such disclosure in our AVZ report.
As such, a reasonable assumption is that they have not submitted the paperwork to the DRC authority.
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#2. Why do they defer the quarterly report to the market close time?
All other companies in my portfolio have announced the quarterly reports either last Friday or today before the market open time.
A reasonable guess is that they knew the report was not appealing.
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In fact, sometimes, our management plays a lot of tricks on us in terms of timing the announcement, particularly with respect to bad news.
(A) On 14th Jan (Friday market close time; 7:39 pm), they disclosed "Application for quotation of securities - offering them free shares." They know that investors will hate such free shares into their pockets without an ML. Why do they choose Friday market close time? To minimize investors' attention, because this is Friday AND close time - not too many investors will pay attention. This is called the "Friday Afternoon Effect" in theory.
(B) Similarly, on 21st Jan (Friday market close time; 6:15 pm), they disclose "Changes of directors' interests" - one director sold part of his shares, whatever the reasons are (superFund blablabla). Again, they choose the Friday close time. If I remember correctly, this director sold shares on Tuesday or Wednesday - two-day delays.
(C) Today, our AVZ management picks up the close time, again. It is not Friday but this is due day.
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I hope they can use their energy, IQ, and "tactics" to negotiate tough ML with tough DRC politicians rather than sit in Perth to play tricks on shareholders who trust them.
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Doing something on the DRC site is always much better than nothing.
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