here is an explanation from asx hope it helps:
ASX ANNOUNCEMENT
CONCERNS ABOUT TRADING PRACTICES IN MINEMAKERS,
AND WONARAH PROGRESS UPDATE
13 May 2008
At the start of May, Minemakers and several of its shareholders noted a new type of trading
in Minemakers’ shares, namely a multitude of trades at single digit levels.
This caused concern to numerous of our shareholders, several of whom registered their
concern with Minemakers and with the ASX, and they queried whether the practice could be
influencing the share price. The Company also raised the issue with ASX when it was
initially noted and when the trading party was able to be identified.
ASX has advised Minemakers that it has reviewed the situation and understands that the
trading is of a form known as Direct Market Access (DMA) or Algorithmic. It advised that it
monitors DMA trading and expects brokers to have in place appropriate mechanisms to
ensure that such trading is not manipulative.
WONARAH UPDATE
The opportunity is taken for a brief update on activities at Wonarah as follows:
1. Diamond drilling: this drilling for geotechnical and metallurgical investigations is
proceeding.
2. RC drilling: the drilling resumes this week for resources and for pre-collars to allow
acceleration of the diamond drilling programme.
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3 | 3000 | 2.340 |
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Price($) | Vol. | No. |
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2.400 | 10404 | 4 |
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