Aguia Resources announced today, in barely three lines of text, that it has sacked its CEO and that its chairman has resigned
John Robertson
PortfolioDirect
Aguia Resources announced today, in barely three lines of text, that it has sacked its CEO and that its chairman has resigned. Why? Who knows; at least not anyone who relies on ASX and ASIC to protect shareholders. The share price has fallen nearly 30%. And, supposedly, we have a system of continuous disclosure. The small resources end of the market is rife with failures to fulfil continuous disclosure obligations. Aguia's behaviour is a reason for more people to abandon the sector. Aguia has effectively given the middle finger to all investors and ASX and ASIC by failing to disclose the reasons for the board movements. Here is another opportunity for the market regulators to at least pretend they are serious.
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John Robertson is Chief Investment Strategist for PortfolioDirect a provider of resource sector investment stock ratings and portfolio strategies for mining and oil and gas investors. He has worked as a policy economist, corporate business strategist and investment market professional for over 30 years after starting his career as a Commonwealth Treasury economist in Canberra. Since being Australia's top-rated commodities analyst and chief economist at one of Australia' leading stockbroking firms, he has advised companies across the mining, consumer products, IT and biotech sectors on their equity market relations. He leads the firm's investment evaluation and security structuring activities on behalf of the Australian Small Scale Offerings Board (ASSOB), the world's first equity 'crowdfunding' investment platform. John Robertson discusses the interaction of mining and investment markets in his weekly 'From the Capital' column in Mining Journal.
John Robertson
PortfolioDirect
John Robertson is Chief Investment Strategist for PortfolioDirect a provider of resource sector investment stock ratings and portfolio strategies for mining and oil and gas investors. He has worked as a policy economist, corporate business...
Expertise
No areas of expertise
John Robertson
PortfolioDirect
John Robertson is Chief Investment Strategist for PortfolioDirect a provider of resource sector investment stock ratings and portfolio strategies for mining and oil and gas investors. He has worked as a policy economist, corporate business...
Expertise
No areas of expertise
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