Without referecing relevant legislation I am only guessing, but it would be interesting to see what they have used the money for or if it is still available. Have they created a false market? Is there a specific time they must adhere to for the drilling campaign and does any particular legislation allow them to re-direct the funds etc without informing share holders? Again not sure on any of these without specific legislation in front of me. An interesting discussion you have raised in any case. My faith in ASIC is not strong, although I appreciate they are hard working individuals with too much on thier plates and not enough resources, added to millions of shareholders wanting action against hundreds of companies at any one time....but I digress.
SML Price at posting:
1.5¢ Sentiment: None Disclosure: Held
