on 04-04-2014 10:08 AM
Never mind chaining yourselves to their machinery and lying down if front of their bulldozers, here's where the mining companies really hurt:
1. April’s fool press release
A teenager sent out a fake press release on April Fool’s Day claiming to be the CEO of gas drilling company Metgasco and announced the company was pulling out of northern NSW.
Kudra Falla-Ricketts, who sent fake statement from her school email address to local journalists, soon found herself hauled in front of the principal and could face more serious consquences.
Metgasco chief executive Peter Henderson said Kudra's fake press release could have had a ''devastating'' effect on shareholders and the prank has been referred to the Australian Securities and Investments Commission according to the Sydney Morning Herald.
Under corporations law, false or misleading statements can attract a maximum penalty of 10 years in jail, a A$765,000 ($825,435) fine, or both.
Metgasco was forced to release a statement to the Australian Securities Exchange stating the email was a hoax and there was no change to its operations in the Clarence-Moreton Basin.
No trading took place before the ASX statement was issued and the company's share price was not affected.
Hit them in the shareholder's hip pocket
on 04-04-2014 10:45 AM
The thing is that it does not hurt the mining company.... it hurts the investors, that means it hurts your superannuation... some kids are so stupid...
on 04-04-2014 11:48 AM
I don't believe in 3rd party boycotts or cyber terrorism.
I don't believe in the divestment movement attacking companies they don't like. If it wasn't for mining this country would be third world status.
Mining in Australia is about 11/2 % of the land mass.
on 04-04-2014 11:50 AM
"Hit them in the shareholder's hip pocket"
Why IF? "them" being?
The only people that might lose as a result of an event like this would be shareholders who sold when the price was down, not the company, also for any sale there would be a buyer who would gain.
However I doubt if anyone would/did take the letter seriously, check the spelling, grammar, format, changing to a completely different technology, and having purported to have originated from the CEO (Henderson), the not so bright Ricketts mentions at the bottom she is the author.
Perhaps a repeat year at high school might be called for!
nɥºɾ
on 04-04-2014 11:53 AM
on 04-04-2014 12:47 PM
@catsnknots wrote:The thing is that it does not hurt the mining company.... it hurts the investors, that means it hurts your superannuation... some kids are so stupid...
Catmad, as you mentioned super in relation to the article above and you seen to know a bit about the Liberal Party could you please tell me if Joe Hockey's wife has anything to do with Q Super ?
I
on 04-04-2014 03:55 PM
No Iza I can't... I am too busy studying to improve my situation in life.... I am sure you have plenty of time on your hands however to find that sort of information.
on 04-04-2014 04:05 PM
You are sure ?
Anyway here it is.
Happened last June apparently...it went unannounced
04-04-2014 04:08 PM - edited 04-04-2014 04:11 PM
Why did you ask me to find something that you already have information on?/ why waste my time? I am only popping in here for a quick read....
You are sure??? what does that mean??? don't bother answering as I doubt I will understand what you mean.
And I have just read the article.... I see nothing wrong with her getting that position...
omg... this place is such an LNP hate fest I know why I don't bother to come in here very often any more....
on 04-04-2014 04:15 PM
@izabsmiling wrote:You are sure ?
Anyway here it is.
Happened last June apparently...it went unannounced
So what's your point?