Perfect summary. They continue to raid the asx with this...

First 101 Last

Share
Profile

Follow
wot

10,346 Posts.

1470

05/01/21

10:08

Post #: 49945676
Share

Originally posted by Desert Falcon: ↑

Morning Wolfpack,

This has been rumbling along now for some eighteen months since around July 2019 if not earlier. I don't have all the facts to hand.
However, the gist of what I am hearing is that the Wolf Management slipped away with a potentially very lucrative asset, shut down their ASX listing and left the ASX shareholders to whistle in the wind. A simplification. But if junior companies are going to get away with such shenanigans, it further increases the exposure of investors and reflects very poorly on the ASX.

Does the ASX not have a responsibility to protect the interests of its investor community from such scenarios? Does the ASX not have a responsibility to ensure its listed companies follow corporate governance rules?

This case on the surface appears worthy of an investigation and media reporting. At least bring it to the attention of the wider investor public. Perhaps on the back of that investigation the ASX will impose more stringent corporate governance on these dream merchant companies? Especially where foreign-based parties are involved.

It's all very shabby and should not be allowed to just slide. Well done to those pushing for an investigation. If I was Australia based and had more time I would be with you in the front line. But I'm in the UK and already just too many other things taking my time right now.

I really hope the Wolfpack sees that justice is eventually done here. Or at the very least that this is thoroughly investigated, and if appropriate the media get hold of it.

For the record those of us with Wolf shares have what? Shares in a Chinese-controlled company with assets in Mongolia, which are possibly now up for auction? (especially if Petro Matad strike). But our shares are worthless because we cannot trade them and the Management have legged it back to Mongolia, effectively burning any ASX investor history. Fairly accurate?

Desert Falcon/

Expand

Perfect summary. They continue to raid the asx with this strategy. Look at SDL almost a mirror image of what happened here but with iron ore in Africa. ASX needs to wake up.

WOF Price at posting: 1.1¢ Sentiment: Buy Disclosure: Held
1 Upvote

0 Great analysis

Reply

Top Stories

LU7

The Breakdown: Lithium Universe talks refinery design and lithium processing in strong preliminary feasibility study for Bécancour

TTT

Titomic jumps +6% as it incorporates Microsoft Hololens tech

STK

Rogozna grows with gold equivalent grading 1.1g/t across 545.7m for Strickland

RCE

Recce progresses testing of gel to treat bacterial skin infections

AHK

Ark Mines provides strategic update following mining lease submission