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18 Posts.

13/07/15

10:49

Post #: 15622417
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Originally posted by tom60 ↑

Just going back and reading through some of KDL’s releases. On 1st April (ironic I know) they grandly announced that Ellendale would continue to operate. KDL Managing Director Noel Halgreen said that “the continuation of processing operations at Ellendale into FY2016 is a great result for KDL and reflects the hard work of the KDL Management team and the team on site at Ellendale, who have worked tirelessly on improving efficiency and productivity at the mine, and exploring options for the processing of stockpiles from our E4 Mine.”

End of dribble….

But from what we now know, later that same month they were laying people off and preparing to shut Ellendale down. How does this fit with ASX and market disclosure? Investors would have bought into the stock based on security/continuity of operations.

This company is economical with the truth and has misled the market consistently since it acquired Ellendale. Thankfully, there is a journalist in Perth who is working aggressively on unearthing this whole mess.

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Hopefully for all concerned with this mess, the administrators & others who are looking into this, leave no stone unturned to discover the truth, as every stone turned over so far has revealed more intriguing facts, than what Ellendale ever produced as carats. Where is ASIC in this, the alarm bells should have been sounding long ago & now they should be off the scale.

KDL Price at posting: 8.5¢ Sentiment: None Disclosure: Not Held
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VAs to be replaced?, page-9

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