Continuous Disclosure Rules & Smoke and Mirrors, page-2

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west waterboy

54 Posts.

10/05/17

14:10

Post #: 24598152
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Originally posted by mistie ↑

Research is the key. Very interesting article on the Kagara Zinc debacle in which the MZN managing director was the managing director there also.

https://www.michaelwest.com.au/kagara-directors-face-lawsuit-in-zinc-miners-demise/

In regards to the spurious Marindi claim against Kidman claim that was lodged plus 6 months after purportedly entering into a lithium deal, one would have thought after 30 years in the business he would know all about “continuous disclosure” rules.

Shenanigans and trial of destruction plentiful in that case … smoke and mirrors …

“The guts of the claim involves balance sheet shenanigans, particularly an inappropriate conversion policy in the way that “resources” estimates were converted into “reserves” for accounting purposes.
Reserves are more certain estimates than resources, which are more speculative, and therefore lend a higher value to a company’s asset base.”
Oh dear, combined with that down dip one hit wonder drill hole – more research is required before I invest any hard earned in this one even with the stock approaching 1 year lows, IMO.

Perhaps some are trying to fast track and resurrect their reputation/career through more lawyers - exploration by litigation on many fronts … smoke and mirrors …

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very interesting...

MZN Price at posting: 1.3¢ Sentiment: None Disclosure: Not Held
1 Upvote

0 Great analysis

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