Pls see attached a senate enquiry into ASIC’s performance (and ASX for that matter) when it comes to ‘Trading and Regulatory Issues Identified by Research into Empirical Registry and Broker Data” back in 2014 .... in other words investigating potential fraud (supported by evidence) into the functioning of the ASX ... https://www.aph.gov.au/DocumentStore.ashx?id=db1bfe96-8924-4292-926d-6c86421612d5&subId=31219
slight correction there,,,,, that is annexure, a submission that was given to the senate inquiry by unknown authors. It had been around for ages on the internet, its got no author and was used by many investors at Cudeco to justify the fall in the share price. It was often quoted by punters who piled in to the share from time to time to justify why they were losing money. Plenty of large private investors put in many many many millions and some sit there today with big big big loses. In fact they are all down, except it seems the insiders who go heaps of cheap options and who sold out and collected nice fees along the way
The "evidence" it claimed was dismissed by the inquiry as it was total rubbish, it was a fun read if you could stop laughing.
the share price of CDU is now 22cents, not because of any of the evidence or claims made in that submission, but because in the end, they had no DFS, or BFS, and they don't have the grades or the find of the decade they once claimed, in fact the company a year or so ago said its was expecting, after a decade of sucking in peoples money its resource would return .06% LOM............................. (and the return will be even lower as they have to restate their resource at the request of the ASIC, the last one was based on truck tickets as there wasn't any information available to the competent person and in the end the ASIC said they aren't accepting it a resource based on such little information, regardless of disclaimers.
Notwithstanding the above, I'm not sure what the unsigned report which is full of unsubstantiated claims which was found to be baseless in the senate inquiry has to do with BBX's share price performance.
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