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clock Created with Sketch. 03/02/17
19:10
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Originally posted by eshmun
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I think there are two issues, one the disclosures in the announcements leading up to today and the more important issue of how long did the management of ESR have access to the assay data before announcing it, and if they did have the data for days what actions did they take to prevent the disorderly trading in the stock that has occurred since Thursday (or possibly even before during the pump). If they did have the data for days it wouldn't have taken a genius to figure out they were in procession of market sensitive information. The share price fall today proves that the information was very sensitive, the share price is down 46.3% and traded lower than that intraday and if the management were in possession of the information why did they not place the company into a trading halt, they could see the share price was falling on significant volume from a close of 13cents last Wednesday to 8.2cents yesterday (that's another 36% decline). That should have been enough to make them suspicious that some people might be illegally acting on price sensitive information. I would have thought that if management had have had any doubts, the best action would have been to immediately put the company into a trading halt to protect the integrity of the market. It wouldn't have made a difference to the end result but at least all shareholders would have started from the same position once the announcement was made. That's why the trading rules exist to protect people and the integrity of the market. Where was ASX? Where was the management?
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wasn't a holder here but GL esh, go get 'em
(20min delay)
