BGS Moving Forward: Big & Bad A$$, page-106

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Barneydebear

4,528 Posts.

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20/04/17

16:02

Post #: 24172683
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Originally posted by The Guatemalan ↑

A 100 years ago (well not quite that but probably 30?) a renowned but flamboyant middle-aged Ozzie stockbroker – RR for short – got rumbled for insider trading – because he bought some Qantas shares AHEAD of an out-of-the blue ASX Ann by that Co. that he allegedly purchased for personal financial gain, expecting that there would be a hike in Qantas' SP once the ANN was made. Such hike took place.

IMO – in BGS’s case – ML & JK would NOT be subjected to similar scrutiny by the ASX &/or Fraud Squad – if they bought shares now – ahead of the Ann by Randgold of its intention to proceed with its take-up of its interest in BGS’s gold “patch” – because that expectation of RG doing so has already been put out there in the public arena for sometime.

You do have a point tho.
If these 2 gents only – are in possession, now, of the info that Randgold HAS decided to proceed – i.e. info not currently known to the rest of the world – and they have acquired or are currently acquiring shares having LEARNED of that info - yes then they could be investigated has having been suspected of conducting insider trading.

But IMO they would be foolish if they did so – given their excellent reputations – knowing already that the legal consequences of such acts could result in convictions of both of them, if judged to have committed such insider trading.
Such convictions would then make them outcasts in the big-business world.

So I’d reckon – they, like every other genuine professional – would not want that to happen,
but remain part of a generally honest business world, for the rest of their careers.

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IMO it's not the Randgold deal that's the issue, but the Lithium MOUs/JVs if they intend to fast track any deal...Just like the Options that got given to the former BoD... IMO they were a shoe in...

BGS Price at posting: 23.5¢ Sentiment: Buy Disclosure: Held
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