I reiterate this suspension so far is regarding the AXIS loan that the market digested a long time ago. So far IMO apart from highlighting obvious mismanagement and poor corporate governance there has been no major bombshell that is usually the cause of suspensions. I received a response from ASX that they are powerless when it comes to how directors handle company funds, any directors duty regulations are handled by ASIC. Pretty much wiping hands of issue. Sooooo ASX please explain why there is no update to the market, the suspension was instigated by ASX and a few letters back and forth, nothing since from ASX for 3 months. If ASX are powerless when it comes to this issue why still in suspension? Which makes me think ASIC may be now involved to force directors hand. Brilliant if MED are forced to tighten up corporate governance and segregation of duties. Shareholders dont deserve this silence from both parties and should be updated immediately.
Still think based on all the information on hand this is a regulatory storm in a teacup. As long as funding remains albeit through convertible notes and intercompany loans then April - November should be very interesting to see production rates and potential diamond discoveries.
MED Price at posting:
0.6¢ Sentiment: Buy Disclosure: Held
