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0.8¢ australian mines limited

Don't assume the ASX sh@t doesn't stink. It stinks. You think...

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7benson7

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25/02/18

06:00

Post #: 31320538
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Originally posted by naomhan ↑

I've gotta say, I couldn't disagree with you more.

The ASX aren't in the practice of holding up announcements. They only do it if there's a problem. Also, another poster suggested that the ASX are public servants. They're not. They're regulators. Big difference.

Here we have a company who just got scolded by the ASX due to a stupid mistake (giving an interview prior to an announcement hitting the ASX. Mitigated by the suspension, sure, but still stupid and unprofessional). We have a CEO doing Corporate Secretarial work, and they openly admitted that they're in the middle of trying to source someone who actually knows how to do that and trying to formulate a basic corporate governance framework (see the Response to ASX Query point 4). This is after they needed to voluntarily suspend in order to make the announcement, because they couldn't sort it out in 2 days. It was about 4 days AUZ's fault, 1 day ASX.

So we have a regulator who aren't in the habit of holding up announcements unnecessarily, and a company who have admitted to having poor corporate governance. An announcement was held up and put through additional checks. Who would you blame? The idea that the ASX should apologise or "has it in" for AUZ is really something. I don't know what was in the announcement that was objectionable, but my bet is that it wasn't specific enough (and still isn't), or that they went too far and pushed news of grand plans without any actual substance, over and above the SK deal.

And I'm not downramping. I'm a holder. I think we're sitting on a good resource, and have a good future, and it looks like we have some reasonable people with talent on the mining side - and that's great. We just don't have anyone who knows how to work this darn sharemarket thingy.

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Don't assume the ASX sh@t doesn't stink. It stinks.

You think someone at the ASX's mum didn't make a packet Friday with a nicely delayed Fluorine announcement.

Up 15% at lunch and then oh yeah we'll just release this now... pops to 35%.

Stinks.

AUZ Price at posting: 10.5¢ Sentiment: Buy Disclosure: Held
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Last 0.8¢		Change 0.000(0.00%)		Mkt cap ! $11.18M

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Don't assume the ASX sh@t doesn't stink. It stinks. You think...

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