Ann: Response to ASX Query , page-17

The company had held raw data since early March for 2 drill holes, and 3 drill holes since early May. Additionally, they state that at a company board meeting on the 27th of April the decision was made to analyse the raw data etc, etc.

If you look at the volumes traded on and after the 27th of April, it becomes fairly obvious that someone who knew something was starting to dump the stock and the sp fell accordingly.

27th April - vol = 199,193
28th April - vol = 987,657
29th April - vol = 592,162
2nd May - vol = 1,194,199
3rd May - vol = 856,637
4th May - vol = 1,324,703
5th May - vol = 2,209,960
6th May - vol = 1,407,384

And then it got obvious something was askew.


Very good point about the RG's buy. I would doubt that there would be a director in the whole country who wasn't aware of the significance of directors' buying on shareholder sentiment.

I hope that the ASX will pursue this with due diligence and quickly establish if any company law/ASX guidelines have been infringed and prosecute them if they have.

I firmly believe that they have deceived their shareholders. It will be interesting to see if any major holders feel the same...