Time for action Like many of you I am also under water on this dog. I fully blame mgmt and the BOD and think it is time for a change. I sent an email to investor relations about "leaked financial results" on Feb 26 and one today to the ASC. Probably won't do any good but makes me feel better to have my say. The text of the email to the ASC is as follows:
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It bothers me that Canadian companies listed on the TSX frequently seem to leak financial information prior to their public notices.
Is this information going to the analysts or to friends & family of the insiders? It irks me more when insiders sell shares immediately prior to a financial report coming out. This seems to be the case with Petrominerales. I thought that was not allowed?
Listed below is the TSX detail of the transaction from their web site and emails to PMG on the leaked information subject. I believe an investigation is warranted. I'm tired of loosing money.
Regards
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Toronto Stock Exchange
| Company Name : Petrominerales Ltd. | Last Updated: March 5, 2013 |
| Date | Symbol | Insider
Buys
Volume | Insider
Sells
Volume | Insider
Buys
Value $ | Insider
Sells
Value $ | Insider
Buys
Transaction | Insider
Sells
Transaction | Currency |
| 03/05/2013 | PMG | 0 | 2,680 | 0.00 | 21,658.40 | 0 | 7 | CAD |
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The share price has dropped 11%+ in the last 5 trading days. This would suggest that a bad 4th QT report/guidance has been leaked. Can you comment?
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| Petrominerales Investor Relations | | | | Reply |
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Thank you for your email.
It is against our corporate policy to comment on rumours or speculation. Petrominerales is committed to the highest standards of openness, honesty and accountability. The integrity of the financial, operational and other information of Petrominerales is vital as it guides the decisions of Management and the Board of Directors of Petrominerales and is relied upon by our shareholders, financial markets and other stakeholders. If you have any complaints or concerns regarding the integrity of our financial reporting, please use our Whistleblower Hotline to report same (contact details below).
Contact Information for Reporting
Email: whistleblower@petrominerales.com
Phone: 403-705-8850 or 57-1-629-2701
For anonymous reporting, please click here.
Our fourth quarter and year-end results will be released before markets open on Wednesday, March 6th. Management of Petrominerales will be holding a conference call and webcast for investors, financial analysts, media and any interested persons on Wednesday, March 6, 2013 at 8:00 a.m. (Mountain Time) (10:00 a.m. Eastern Time) to discuss our 2012 fourth quarter and year-end financial and operating results.
The investor conference call details are as follows:
Live call dial-in number(s) 416-695-6617 / 800-446-4472
Live audio webcast link: https://events.digitalmedia.telus.com/petrominerales/030613/index.php
Replay dial-in numbers: 905-694-9451 / 800-408-3053
Replay Pass code: 3686459
Please let us know if you have any further questions or concerns.
Best regards,
Investor Relations Team
Petrominerales Ltd.
Phone: 403.705.8850 or 011.571.629.2701
Email: ir@petrominerales.com
www.petrominerales.com