Too early to call but you have ASX, ASIC and media investigating. If AXIS loans are OK then maybe nothing to see, if not could be big trouble especially as it's not just Merlin. The search may also uncover other issues regarding loans, funding, broker research reports, annual reports. There have also been many company announcements that could be issues with, like what has happened to the new scrubber and DMS. Lack of transparency over diamond sales has certainly got shareholders interest, what did happen to those green diamonds? Why did the mine close in October for the wet season?
If after all this is cleared they still need to come up with a workable plan to have a profitable mine, they stated in October last year that they were in discussions with an external consultant over a mine plan, you would think they would have had time to work something out by now. After 10 years of this don't hold you breath!
MED Price at posting:
0.6¢ Sentiment: None Disclosure: Not Held