TER 2.22% 22.0¢ terracom limited

TER uses privilege obstructing ASIC investigation.

  1. 5,257 Posts.
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    The probe was initiated after a former commercial manager of the mining company, Justin Williams, alleged in a 2019 court case that TerraCom, together with its marketing agent, Singapore-based commodities giant Noble, had laboratory giant ALS artificially boost its analysis certificates of coal.

    TerraCom is attempting to prevent the ASIC from inspecting internal report issued by advisory group PwC, citing legal professional privilege. According to court documents, in August 2019.

    Brisbane-based ALS, who has already admitted that between 2007 and 2020, almost 45 to 50 per cent of its coal export certificates had been “manually amended without justification”

    https://www.commonwealthunion.com/miner-cites-legal-professional-privilege-in-denying-access-to-fake-coal-report/

    In the last week there has been 30 million shares dumped by directors.
    I noticed this after I read in the financial review a story in the financail review.

    Media report Financial review. Mar 11, 2022
    Miner loses legal privilege over PwC’s ‘fake coal’ probe
    The corporate regulator is examining claims that miners exerted pressure on laboratories to falsely inflate the quality of coal on export certificates.


    Observations. Directors dumping.
    Shane Kyriakou
    Craig Ransley,
    14 march 2022 10 million shares each dumped.

    Media report on 11 March, Directors dumping on 14 March. Am I missing something. ??
 
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