Well during the mid-70s the gold mining industry in Australia...

Well during the mid-70s the gold mining industry in Australia was at its lowest level in its history and there were practically no gold mines operating. The decade before, the Poseidon bubble (a mining boom triggered by a nickel discovery in Western Australia) caused Australian mining shares to soar and then crash, prompting regulatory recommendations that ultimately led to Australia's national companies and securities legislation, so before 1971 the system was totally unregulated and gullible people who knew little about mining got their britches burnt.

During the 1980s there was a gold mining boom but most companies were just exploiting simple easy to dig open pit oxide resources by open cut mining methods. The ASX as we know it today was only set up in 1987 so the need for regulation was a lot lower in those days.

You might scoff at the JORC code but it is actually there to protect investors from company promotors making outlandish claims like those made by certain posters on this thread. If anything I would like more regulation of company announcements not less as there are many companies pushing the limits of what’s acceptable IMO.

BBX has been put through the wringer by the ASX and has been allowed to relist its shares after statisfying the regulators. Invest on the basis of what the company is saying by all means and at your own risk. But remember the company presently hasn’t got any gold resources at any of its prospects.Esh