I wasn't just referring to any old run of the mill post AGM blurb. I meant that news that will move the SP will probably be released at the AGM, but only good news will be released at the AGM. These guys must comply with ASX disclosure rules but self preservation is in the mix. The crucial data from two drills happens to coincide almost exactly with the AGM.....I don't believe in coincidences, so call me cynical but if I were management there is no way in the world I would have an AGM at this juncture UNLESS I was controlling at least some news flow and delivering good news at said AGM.
Immediate disclosure rules are very clear however, that is only upon official notification. Before any drill data is officially released from the rig/labs/geos to MEO, there is plenty of unofficial data. It goes something like this;
Data providing company: We've got good/bad news.
ASX company: That's fantastic/disappointing, when will you be in a position to officially notify us of this?
Data providing company: Reviewing the data now so in a few hours.
ASX company: Ahh umm we'd really like you to double or triple check your data.....even if it takes you until COB Wed we'd be OK with that.
MEO Price at posting:
25.0¢ Sentiment: Buy Disclosure: Held
