Interesting, public facts to consider about Brett Mitchell:
1) Long-term partner and office sharer of Craig Burton, largest shareholder, former chairman and current non-executive director of Cradle Resources Limited (source: www.veronaenergy.com;www.bloomberg.com/research/stocks/private/snapshot.asp?privcapId=50949639).
2) 5th largest shareholder on re-compliance of the company in July 2013 when the Panda Hill project was acquired (source: ASX announcement dated 30 July 2013).
3) Holder of 11,520,000 shares jointly with his wife Michelle Mitchell (family trust) as @ 26 April 2016 (source: ASX announcement dated 27 April 2016).
4) As a substantial shareholder, on 10 March 2017 stated his intention to vote in favour of the Tremont Scheme, although it did not prevent him from selling his shares (source: ASX announcement 10 March 2017).
5) 3 days later, in or around 13 March 2017 Brett's wife purchases a house in Cottesloe, Western Australia for $4,400,000 (source: RP Data).
6) Between 26 and 30 May 2017, sells 1,500,000 shares for a total of $477,184 (source: ASX announcement 3 July 2017).
7) On 30 June 2017, sells 2,500,000 shares for a total of $798,785 (source: ASX announcement 3 July 2017).
8) The same day, 30 June 2017 Cradle requests and is granted a trading halt "pending an announcement regarding draft changes to mining legislation proposed by the Tanzanian Government (source: ASX announcement 30 June 2017).
Questions:
- what was the exact time and date that the order for the sale of the 2,500,000 shares by Brett Mitchell and his wife was given?
- what was the exact time and date of Cradle becoming aware of the information that led to its request to the ASX for a trading halt?
- were any provisions of the Corporations Act concerning inside information breached?
CXX Price at posting:
15.5¢ Sentiment: None Disclosure: Not Held
