I would think that the case - though if there was cement attached to the pipe they are pulling up this would increase the weight and may look like there is more pipe attached than really is the case.
I take your point though that they should have known something was amiss.
We don't know when GDN became aware though. If they found out when the daily report is issued at Midnight 29th November Utah time by then the AGM was over or already in progress Perth time and this info would not be reviewed until after the meeting (and lets face it - which Co would release bad news "face-to-face" at the AGM when they don't have had all the facts to hand rather than via a ASX report when they had time to sum up the situation).
They wouldn't have wanted to release info until they actually knew exactly what had happened - so they could "fudge the facts" to the limits of their reporting requirements.
Anyway, I'm sure all would agree that the information released to shareholders has consistently been too little, too late and too infrequent.
GDN Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
