There is a correction; the Old Pirate indicated resource was reported in the 2013 Ann report as per the 2004 JORC code section 21, see
http://www.jorc.org/docs/jorc2004web_v2.pdf
However I still put forward the argument that ABU advised a detail mining plan for the Old Pirate Mine to investors in the 2013 Ann report and as such they did not advise investors in a suitable time frame when they subsequently signed a deal with Tanami Gold (TAM) on the 7/7/2014 to use their processing plant.
My feeling is the 2013 Ann report (a legal document) has enough evidence to suggest some sort of influence may have occurred mid 2014 and the take over panel notes of 2015 IMO show this bewildering scenario likely occurred. I contacted ASIC about this situation and they investigated and the case was not pursued, however I am not personally satisfied, the ASX documents from the 2013 Ann report to the 7/7/2014 IMO likely show some influence on the choice of processing plants occurred, yet the choice of processing plants was not announced till after the deal was signed with TAM.
I put forward the argument that the average investor could only rely on the low risk "staged approach" mine plane as detailed extensively in the 2013 Ann report and as such they had know knowledge of the high risk TAM deal which was not advised till after the deal was signed. Investors were therefore
blind sided, they could not sell as they had no indication of what was occurring.
The Australian Corp Act 2001 section 2(b & d) states (in short) that a director does not have a personal interest or believes their judgement is in the best interest of the corporation.....
I personally do no feel that the change to the TAM processing plant was in shareholders best interests in fact I strongly believe that a conflict of interest occurred IMO. I put forward this argument to ASIC in July 2017 but it was not perused, however it was investigated!!! I am not going to name names, but I suggest for those who may have knowledge or who have lost heavily I suggest you write to ASIC if you have information to add.
(20min delay)