Satellites' statement that both ASIC and ASX told him "Korab...

Satellites' statement that both ASIC and ASX told him "Korab management did not do anything wrong" beggars belief. No wonder he can't find a copy of that correspondance! Maybe, I repeat MAYBE, Korab mamagement will wriggle out of this mess on a legal technicality, but the undisputable fact is that the overwhelming majority of Korab shareholders at the time of the aborted spin-off of these gold companies feel they have been wronged and can point directly to their subsequent financial losses. How can this be seen as not doing anything wrong, even if just from a public relations perspective which includes general confidence in the investment community overseen by ASX and ASIC.

I am aware of several other parties who lodged similar complaints. None of us received such a reply. Some of us were advised there would be no further action taken but there was never a suggestion that our concerns were frivilous or baseless. Others have reportedly received indications that investigations are ongoing.

This thread is becoming a classic case of people pursuing their own vested interests without regard to justice or even logic. It is easy for those who weren't shareholders at the time to tell us who were that we should move on and forget what happened. They are in possession of what we believe to be our assets, obtained at no cost.

Likewise it is foolish for ex Korab shareholders at that time to sack the Company completely now because of this dispute. If Korab is successful in retaining these assets then existing shareholders are the winners and stand to benefit greatly if any of Korab's projects ever see the light of day. I realise management's track record does not indicate cause for optimism here, but...

This may be seen as an overly pragmatic view as I'm sure some "victims" will struggle to overcome ethical/moral concerns if tempted to continue as Korab shareholders, which may partly explain why its share price is lagging so far behind its intrinsic value.