re: u238z1 - new uranium bulbs in drill results If a director...

re: u238z1 - new uranium bulbs in drill results If a director says ANYTHING to a potential investor, even indirectly, causing a person to buy and thus make the shares go up, he is guilty.
If he tells lies to make his shares go up he is even more guilty.

Here is an example: Craig Manners, son of Ron Manners of Croesus fame, gave a glowing account to a journalist.
Read what happened:

Media and information releases Printer version

05-153 Former Adelong capital director found guilty

Thursday 9 June 2005


Mr Craig William Manners, a former director of the listed company previously known as Adelong Capital Limited (Adelong), was today found guilty on three counts of making false or misleading statements. Charges were brought against Mr Manners, of Nunawading, Victoria following an investigation by the Australian Securities and Investments Commission (ASIC).

Mr Manners was acquitted on a further six counts of making false or misleading statements and nine counts of breaching his duties as a director.

ASIC's investigation centered on the circumstances surrounding an interview Mr Manners gave a German journalist on 13 January 2000. ASIC alleged that Mr Manners, then a director of Adelong, a venture capital company specialising in investments in technology start-ups, made false and misleading statements regarding the future expectations and prospects of Adelong and its share price. These statements were published on the German internet site www.wallstreet-online.de.

ASIC alleged that the interview caused a substantial increase in the demand for, and price of, Adelong shares on German stock exchanges and on the Australian Stock Exchange (ASX).

ASIC also alleged that following the publication of the interview, Mr Manners, a client adviser with D&D Tolhurst Ltd at the time, sold shares and options in Adelong on his own behalf, and on behalf of companies associated with him. ASIC alleged that Mr Manners' net profit on his trading subsequent to the interview was at least $1.698million.

'Company directors must act honestly, and ensure that the information they provide to the market is true and factual. In this case, statements made by Mr Manners had a material effect on the market. ASIC will not tolerate those who seek to undermine the integrity of the market and harm investors', ASIC's Executive Director of Enforcement, Ms Jan Redfern said.

ASIC's investigation followed a referral from the ASX.

The verdict followed a nine-week trial in the County Court of Victoria before Judge White. Mr Manners will appear for sentencing on 4 July 2005.

The Commonwealth Director of Public Prosecutions is prosecuting the matter.


So, anyone making their shares go up by saying, say :" We have Uranium". - and they havent...will finish up the same way IF someone lodges a complaint.

Cheers
GZ