When the Media makes such scathing and devastating statements especially Channel 9 in this instance it is based on what they know about the company and what the company believes no one else knows with the implied consent of ASX and ASIC.
There is a lot of explaining to do by the company. From the perspective of an investor yes whilst enjoying a surge in the value of your portfolio it is painful.
Unfortunately the Humpty Dumpty the film director admitted to getting inside information. Well that can be interpreted another way. But she did say she got a tip.
I would suggest there is quite a bit the company has to explain. This is a Queensland (Gold Coast) company. The 'rumours' were circulating for some time now. They would need a dammned good lawyer willing to kick the proverbials to get anywhere now. There is another Gold Coast company that had been investigated for sometime on which the ASX and ASIC and the feds now have some dirt. Their problems are simply a matter of time.
Considering the company's pedigree, their moves of late and the very very suspect nature of their strategies and reports (substantiated by very very independent and experienced geologists ) I would say this programme was researched and indirectly funded by the ASX, ASIC and if my sources are correct, the Feds.
What the outcome of it all is I cannot say and no one can. But there are certain steps these people can take to cover themselves and they must do it now. Keep away from legal firms that have done work for the government or its agencies.
There is a huge clean up underway ( an if you will excuse the pun it is dirty) for small mining companies and the big ones are behind it with the government.
My concern like that of many is the effect on the economy right now peaking and waiting for a break to crash or at least be corrected. And it is us the smaller ones in the end to hurt.
AUM
australian mining investments limited
