IMO, you should focus your attention at when the officers of the company became aware of the material differences between the information in the public domain and the updated / downgraded results. For instance, any attempt to delay the release of the results which the company knows are bad, would show some level of legal danger.
eg;
2006 resource -> 2010
When were the officers of the company aware it wasn't 25Mt? Did they run preliminary level resources?
and so on and so forth for each iteration of the devolution of the Resources. I mean, every time they release, there's less and less there. It would seem hard to believe that the 4 years between 2006 and 2010-2011 they didn't have an inkling that there wasn't 2% Cu.
The reality is...the lack of a DFS and a Reserve all this time is kind of a great fig leaf to hide behind. "We never knew!" they can claim "How can we know it's uneconomical if we never did a Reserve?"
There's a broad swathe of douchery between malign deception and just bad management, sadly, and this is where directors live and breathe.
CDU Price at posting:
$1.11 Sentiment: Sell Disclosure: Not Held
