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Sub-Sahara fined for failing to provide timely market info
29-April-08
Written by Edited announcement
Listed mineral exploration company, Sub-Sahara Resources NL, has paid a $33,000 fine following an Australian Securities and Investments Commission investigation.
It was alleged Sub-Sahara failed to properly inform the market about metallurgical test results obtained from the Zara Gold Project, a joint venture in Eritrea in which the company has an interest.
Sub-Sahara agreed to pay the fine following an infringement notice issued by ASIC on April 16 2008. The notice alleges that the company failed to comply with continuous disclosure obligations contained in the Corporations Act by not immediately notifying the Australian Securities Exchange (ASX) of positive gold recoveries from three ore samples taken from a deposit within the Zara Gold Project.
Article continues...
29-April-08
Written by Edited announcement
Listed mineral exploration company, Sub-Sahara Resources NL, has paid a $33,000 fine following an Australian Securities and Investments Commission investigation.
It was alleged Sub-Sahara failed to properly inform the market about metallurgical test results obtained from the Zara Gold Project, a joint venture in Eritrea in which the company has an interest.
Sub-Sahara agreed to pay the fine following an infringement notice issued by ASIC on April 16 2008. The notice alleges that the company failed to comply with continuous disclosure obligations contained in the Corporations Act by not immediately notifying the Australian Securities Exchange (ASX) of positive gold recoveries from three ore samples taken from a deposit within the Zara Gold Project.
Article continues...
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