When the latest HotCopper post on CUU began there were dramatic...

When the latest HotCopper post on CUU began there were dramatic changes in the ratio between buy and sell orders, a dramatic increase in the buy orders and a dramatic increase in the share price. At the same time Bell Potter released a very favourable report on CUU that was surprising considering immediately before this period there was an even more dramatic fall in share price and sell ratios. Infact the Bell Potter report provided a short term rating of 5/5 being the highest possible rating. In addition to this Bell Potter released another report providing a short term rating of 1/5 being the lowest possible rating. Such a dramatic change in a 24hr period. Combine these factors with the facts that the CUU share price has performed poorly since the merger on a monumental scale, the strongest supporter of CUU has recently been suspended from Australias largest share forum for unacceptable behaviour, news of drill results was fast approaching as per CUU news releases and most of all that there was no apparent logical reason for this dramatic market behaviour.

As a result I provided correspondence to CUU seeking clarification and further information on 2 occasions. CUU have not provided any response. Considering these factors and also the fact that the Bell Potter report provided inaccurate information regarding principle share holders I also sent correspondence to Bell Potter seeking clarification and further information. Bell Potter provided a response which in essence stated they did not accept responsibility for the accuracy of information posted under their name on their site.

ASIC and ASX are obliged to monitor the market in order to detect unusual behaviour however there is no indication either party has detected or sought further information on the situation listed above. This would seem to place the ASIC employee who holds shares in CUU in a difficult position. If this situation further deteriorated into a situation similar to the Opes disaster the position of the ASIC employee may be untenable regardless of what his holding position is at that time.