re: aum on sky AMI cries foul over meeting infiltrators July 12,...

re: aum on sky
AMI cries foul over meeting infiltrators

July 12, 2006 - 6:39PM

The boss of a junior resources explorer is considering going to police after accusing two men of infiltrating his company's shareholder meeting in Cloncurry, northwest Queensland.

Australian Mining Investments Ltd chairman Wayne McCrae said two men claimed they were shareholders, but subsequent checks of the share register revealed they were not.

After the formal part of the meeting, about 60 shareholders were taken by bus to the site of the company's Rocklands copper project, where one of the men allegedly took photos and global positioning system (GPS) readings.

Mr McCrae said he believed the infiltrators were from rival companies trying to find out commercially sensitive information.

"I'll be talking to the police tomorrow," Mr McCrae said.

Australian Mining Investments has been in the news following its share price galloping from 29 cents to as high as $10 in less than two months, spurred by the announcement of details about the Rocklands copper project.

Shares were last traded at $7.11 before a trading halt was imposed on July 5, but Mr McCrae said he hoped trade would resume on the Australian Stock Exchange tomorrow, once the company had released a further statement about Rocklands.

"Our geological team is putting last touches to a statement we hope to release tomorrow," he said.

At Wednesday's meeting, AMI shareholders passed a resolution to change the company's name to CuDeco Ltd.

But they were prevented from voting on resolutions to issue options to AMI's three directors, as originally planned, after the intervention of the Australian Securities & Investments Commission (ASIC).

ASIC had filed an urgent application for an injunction with the Supreme Court of Queensland, amid concerns the explorer's recent share price spike had rendered the resolutions "materially out of date".

AMI agreed not to proceed with the resolutions until August 25, with ASIC's application being adjourned to a date to be fixed.

AMI had sought to issue a total of 10 million options to purchase shares with an exercise price of 50 cents each to Mr McCrae and directors Timothy Koitka and Peter Hutchison.

© 2006 AAP