There is no doubt in my mind that they did the wrong thing holding on to the results for this long. They must have had a clue weeks ago if not months ago that the numbers weren't going to look great.
I can only assume they justified holding back with the fact that they hadn't analysed the results to the point where they could draw further conclusions for ongoing exploration of the area. I personally don't buy that as a valid justification, but inside their own bubble they might have felt it was sufficient.
If you feel strongly about that aspect, then I'd suggest by all means that you could refer the matters to ASX/ASIC on the grounds that material results were unnecessarily held back.
I'd be hesitant to tie the bad results to the 170m dump earlier though (especially since someone got direct word at the time via phone call that this was due to an investor that had to exit for reasons that had nothing to do with TNR). As much as you might like to see a conspiracy in that, there is no evidence that it's anything more or less than what was stated at the time.
And as always, everyone is entitled to their own opinions. If you believe it'll go to 0.1c, then obviously the only course of action for you would be to sell before it goes there.
As I've already indicated, I'll just be putting them in the bottom drawer for later. I still believe the odds they'll find something in Madagascar eventually are pretty good, and I have no problem with just waiting it out. Feel free to consider that foolish, but it's just as valid a judgement as your own.
TNR Price at posting:
6.0¢ Sentiment: Hold Disclosure: Held
