The Brits are still having a go. Maybe they don't realize 2 of...

The Brits are still having a go. Maybe they don't realize 2 of the top 6 shareholders are dumping.

Hard to fathom three things here:

1) the lack of a subs holder notice from Genesis. Perhaps there was some convoluted corporate ownership structure that allowed them to avoid bundling the shares sold with their main holding, but even their subs holder notice does not make sense. Maybe ASIC cannot enforce Australian corporations law on foreign entities which is why it spends it's time beating up retail traders.

2) Why Genesis is selling so soon after supporting the company at 3c. Was it underwriting the placement and if so for how many shares? Hopefully not 110 million shares worth of underwriting!

3) Why a former board member would be selling at the lows, if that is the case. (Maybe it was a transfer to another related entity)
I mean, if he had previously told shareholders the company and it's assets had good potential why would that have changed merely because a board position is no longer held? Prior positive outlook would stand at odds with share sales at these lows. I guess it could be financial pressure but surely not, public company directors are normally loaded.

Both of these are red flags, but you have to hand it to the British; they are still raising the flag and charging down the valley of death.