I don't know if guys are aware or not but ESG's fluctuating SP...

I don't know if guys are aware or not but ESG's fluctuating SP over 2008 can be somewhat attributed to a member of Allegiance Mining's management taking shareholder's money and placing bets on speccy stocks - including ESG. Excerpts from today's Financial Review, p19,

'The man at the centre of Allegiance Mining's $8 million share trading blunder claims he was punting the takeover target's money on the speculative end of the stockmarket to "help" broking houses that had supported the nickel hopeful in the past.

'The claims follow embarassing revelations that Allegience - the subject of a $775 hostile takeover bid from Zinifex - booked a $7.9 million loss during January's market rout through investments in speculative stocks such as Eastern Star Gas, Westside Corporation and WCP Resources.

'In an interview with the AFR, Mr Amalzak (Allegience) claimed he sometimes ordered his broker at Findlay & Co to buy shares on behalf of Allegience in speculative float placements promoted by Shaw (Westside Corporation) and Pattersons (Eastern Star Gas) because the brokerages had been supportive in the past.'