UNUSUAL ACTIVITY ON THE Australian Stock Exchange (ASX) last Friday “confirms our suspicion that there is on-going market manipulation” in Bougainville Copper shares, according to Axel Sturm (pictured), president of the European Shareholders in Bougainville Copper.
Mr Sturm said that the ASX had experienced its highest daily turnover in Bougainville Copper equities for many years – which he described as a “stunning quantity”. In total more than 2.2 million shares were exchanged.
He said that ESBC us now investigating this event and that by the end of this week it will report more and “be able to bring light into this unusual affair.”
Mr Sturm believes that the unusual surge in activity was part of a plot by “crooked individuals who try to pull down the share price by selling their shares under value”.
He has urged investors to buy BCL shares to thwart what he terms “this malicious down-trading”.
Mr Sturm remains bullish on BCL share price, currently trading around 63 cents, expecting that at fair value it will “soar to $3 or even more.”
He also welcomed as positive news that Australian High Commissioner Ian Kemish will visit Panguna tomorrow.
Mr Kemish tweeted yesterday that he is “off to Bougainville for Panguna peace initiative supported by AusGov & ABG. Landowners, churches, former combatants & women coming together.”