ASX Manipulation - Selling into Announcements

Have a read - senate enquiry on ASX manipulation - Selling into Announcements.

213_att3_Withheld.pdf

Pg 7 and 17 or see below.

Bang on whats happening with FBR at the moment. Nothing new under the sun.

Not denying FBR management's fk ups and unexpected delays with HX's impact on the SP.

But what happened to SP in last few months after positive ANNs are very obvious. Especially now when the HX is on the cusp of commercial roll out and big names are closer than ever before.

For these Mfking manipulators, its like stubbing out fingers clinging on cliffs or death by slow slicing the weak ones.

Their effort to push SP to this level simply indicates the potential of the upside and their last opportunities at downticking.

When not if, the corner is turned, its back to pump and dump.

Despite their fk ups, its no denying FBR is quietly achieving their goals one by one. Once WB (essentially done) and first major commercial deals signed, we are no longer speccy.

"Wrong-footing and panicking retail investors through tactics such as deliberately selling down announcements that herald major developments for the Company. A disappointing share price reaction invariably takes away from the significance of an announcement and leads to investor confusion and angst."

"1.3.5.4 FURTHER OBSERVATIONS: Selling into Announcements:

Market sentiment can be controlled by ensuring that promising or even strong announcements result in minimal market impact. The brokers responsible for the selling down of announcements are readily identifiable as the brokers who have engaged in forcing Downticks as sellers on days where announcements are released. Such activity, when observed taking place by the same small group of brokers over long periods of time (i.e., 3.5 years), provides empirical evidence regarding attempts to create artificial pricing levels that reflect strategic trading agendas rather than company developments and company fundamentals. News is meant to be a driver of markets, so that consistently counterintuitive responses by the market to good news are in effect a strong indicator of share price manipulation.

The manipulative selling with CuDeco is borne out by selling in response to strong announcements such as securing access to rail facilities which is an obvious value-adding acquisition. The announcement (refer Case 24 Section 10, ASIC Complaint 2013-1) had nothing to do with copper resources and grades which have been the subject of constant confusion and conjecture following JORC estimates that appear to have failed to adequately address high grade copper anomalism.

Also, the selling down of announcements that clarified JORC issues and pointed to increased value such as:
 a substantially upgraded resource in June 2011;
 higher grades from initial bulk mining trials than suggested by JORC estimations;
 the granting of a long awaited mining license; new discoveries likely to result in increased resources;
 the gaining of a port facility at Townsville for the shipping of product; successful metallurgical trials;
 a successfully commissioned crushing circuit and successful trials in separating high grade native copper thus putting an end to uncertainties that have plagued the Company regarding the processing of this type of mineralization;
 Voids identified by JORC estimations actually being shown to carry significant levels of mineralization; and
 the likely early commencement of mining with sales of direct shipping ore, etc.

The selling down of such announcements by institutional interest makes no sense as the developments help to de-risk the project and enhance their investments very substantially. What the selling in response to announcements does do, is to point to a systematic attempt by certain interests to detract from market sentiment wherever possible. In short, share price manipulation."