I have contacted ASIC and will lodge a formal complaint about...

I have contacted ASIC and will lodge a formal complaint about lack of care and diligence, misleading and deceptive conduct, failure to disclose, and I am trying to see if there is a rule about being competent to run the business.

Complaints to ASIC should be lodged in writing.

This might look a dumb thing to do for a shareholder (I am keeping the stock at present), but I think someone needs to take a genuine look at this company and see whether its methodology is appropriate and whether the gold really is able to be mined.

Best case scenario is that the gold is there and is able to be mined, but management is not up to the task - then a takeover by a company that can do it.