1. Matrix Resources - operated for 8 months without any news on excessive mining costs
2. Gleneagle Gold - understated mining costs, downplayed issues
3. Minotaur Resources - huge opportunity cost for me because I bought this stock (14c) & option (5c) to watch them go to $2.40 several months later because they discovered the size resource I had expected. Would have made me a millionaire. I sold because after 3 months I figured they didn't find anything...but no...they had time to drill a 700m hole and not report the fact that they had encountered any mineralisation until the results were in. Compare that with the oil industry's policy. They practically tell you every metre of progress. Newsworthy? I'd say so. A $3mil company might be worth $2 billion.
4. Matilda Resources - this was another stock that promised a lot and didn't convey or account for its lack of results.
This article from the ASX highlights some more incidents by companies doing what they do best - ignoring the interest of shareholders. They all do it to some extent. Are they custodians of shareholder interests, or some interests at the expense of others. There is a minefield of issues that have to be investigated, including announcements, the content of announcements, secret deals, director equity divestment & trading, use of short selling. There is room for self-serving conduct through CFD platforms in the like which I suggest are not even monitored, and easily avoided.
Andrew Sheldon www.sheldonthinks.com