Well,
After Hongkong, Australia is the easiest country in the world to list a company in the stock exchange (even more easy than usa). Giving the fact that Australia has a huge mining industry gives these spec companies position to set up a scam. You only need a licence to drill for oil in the middle of nowhere (easy to get such a licence) and instantly, you have an access to the pocket of 10,000 regular hard working people.
The government know these facts and all the financial sector knows this scam. All are making money from this except regular hard working people. Even if this practice is unfair, somehow it is good for the economy and in particular, good to the country side, good for the financial sector. Practically this is good for everyone except you and me!
The financial sector is happy to get the fees and from time to time to profit from insider trading and to jump into the wagon in case there is a rare success.
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