agree 100% with you spiderdew and I advise everyone who lost money in this fiasco of the gold spinoffs to contact ASIC and complain. It can be done online at https://www.edge.asic.gov.au/008/complaintV006?get/complainant/t=316447a3c2ae45d8850241bbe3befc35ce50 Hopefully if ASIC get bombarded with complaints they will do something. Here is a paragraph from a report of Korab on 24/6/2010
The distribution in-specie of the Lugansk and Melrose shares to Korab shareholders is conditional only on the approval of Korab shareholders at the upcoming General Meeting and nothing else. The distribution is not conditional on either of the two companies being admitted to ASX. At present the Directors intend to conduct the distribution within 6 months form the admission of each company to ASX. However, this is an indicative timetable and the distribution may be brought forward at the discretion of the Directors or as required by the ASX. In the event of the change, the market will be advised accordingly. So the distribution wasn't conditional of them being listed on the asx so we are still shareholders of Lugansk and Melrose. Stand up and be counted and complain and don't let them pull the wool over our eyes
KOR Price at posting:
15.0¢ Sentiment: None Disclosure: Not Held
