is this a reflection of continuous disclosure

I must say that I have been disappointed before but first got into this stock based upon research by The Intelligent Investor.

I really don't mind the speculative end of the market but it is driven by regular information and drops like a stone when that becomes less regular.

My experience here has been unbelievable - The sale to someone we cannot identify.

The withdrawal by the company because the asset is worth so much more - but we are not given any logical explanation as to how that conclusion is arrived at.

The deal is called off by the company after its shareholders have approved the transaction - I am not even sure if that is a legal process - surely once shareholders (the ultimate body and authority to decide things) votes in favour I thought the directors had to proceed under those instructions. So if the agreement was subject to shareholder approval then that was ticked off so what suspensive condition or on what grounds did a so called binding agreement have such a huge out that management could pull the rug.

Now if it was such a favourable deal - then I would have expected the buyer to challenge the cancellation - but even that does not seem to have a breakfree clause. So you have to ask yourself was this truly a commercially constructed deal. I cannot see any board I was part of agreeing to enter into a flip flop agreement without a breakfree clause which compensated the company for the time and money wasted on the deal.

So my personal conclusion is that the buyer had the out but as its all confidential the buyer has allowed management to claim the decision to withdraw.

I think that the ASX should be policing these secretive deals so that at least w know it was on the up and up. The share buyback - I dont see them doing any of that its another red herring - should have been able to do buyback of 23.5million shares from 17th feb - guess what nothing happening at all.

I have sold half my holding a week ago and I am extremely happy - I wish the shareholders the best of luck but to live in a vacuum and think management are doing a great job is not the way I invest. Its more like my lottery ticket that I take weeks to present to see if I won anything because I dont really ever believe I will. Gambling on the fact that management know what they are doing and have your interests at heart is built around a premise that secretive processes hide abnormal profits - often it just hides mediocre management.