# FTH - Fifth Element Resources



## System (21 May 2014)

Fifth Element Resources Limited (FTH) is a junior mineral exploration company that has assembled a diversified portfolio of highly prospective projects located in the mid-west of New South Wales. This portfolio provides exposure to the key commodities of gold and copper. Exploration has been in progress since early 2012 and has resulted in the acquisition of four Exploration Licences. 

http://www.fifthelementresources.com


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## skc (3 July 2014)

FTH has to be setting some sort of record... getting ASX price query 4 times in the last month.

Pershing is doing all the selling and Goldman is doing all the buying. It's gone from 20c listed price to $3.50 in just over a month, on tiny volume (<5000) almost every day. If this stock isn't rigged I will eat my hat...





Yet all ASX can do is ask those same stupid price query questions over and over again.

Here's an interesting blog I recently discovered. I am not sure I agree with everything the blogger says on every post, but there's some unique perspectives on LICs (like their cross holdings and cashflow deficifits etc).

http://drbenway.blogspot.com.au/2014/07/the-fifth-element-resources-limited.html


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## skyQuake (3 July 2014)

$200k for 20mil shares for the promoter/director. Nice little earner


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## skc (3 July 2014)

skyQuake said:


> $200k for 20mil shares for the promoter/director. Nice little earner




Who's he going to cash it out to? May be someone would be silly enough to offer him a non-recourse margin loan secured against the shares?

Just had a look at this guy's address... 40/B TOWER 2 CLOVELLY COURT 12 MAY ROAD HONG KONG 

Penthouse apartment in the best part of HK. Similar apartment last sold for ~HK$75m


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## ParleVouFrancois (7 July 2014)

Recent 'top 20' came out, FTH has only 13 shareholders LOL.

http://www.asx.com.au/asxpdf/20140703/pdf/42qmmkr3nbd36d.pdf

Currently the bid is at $4.90 per share, last traded at $4 per share, no offers at all. ASIC should really take a look at this, something fishy is going on, the tenements have had no drilling or geophysics conducted, no significant announcements since listing either.


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## skc (7 July 2014)

ParleVouFrancois said:


> Recent 'top 20' came out, FTH has only 13 shareholders LOL.
> 
> http://www.asx.com.au/asxpdf/20140703/pdf/42qmmkr3nbd36d.pdf
> 
> Currently the bid is at $4.90 per share, last traded at $4 per share, no offers at all. ASIC should really take a look at this, something fishy is going on, the tenements have had no drilling or geophysics conducted, no significant announcements since listing either.




There are no offers, ever. The only printed prices come from someone hitting the bid, which were ever-increasing.

I suppose you can do this until it's so big that it is for inclusion in the ASX200. You will also need to generate higher volume (which you can do by just passing the parcel around related parties) to meet the liquidity threshold for inclusion. Then the passive index funds come in and buy them off the FTH's 13 ultra-rich holders. And you have completed the most marvelous piece of pump and dump...


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## skyQuake (7 July 2014)

skc said:


> There are no offers, ever. The only printed prices come from someone hitting the bid, which were ever-increasing.
> 
> I suppose you can do this until it's so big that it is for inclusion in the ASX200. You will also need to generate higher volume (which you can do by just passing the parcel around related parties) to meet the liquidity threshold for inclusion. Then the passive index funds come in and buy them off the FTH's 13 ultra-rich holders. And you have completed the most marvelous piece of pump and dump...




Way to ruin the party man! Could have become lucky no.14 instead

Statistically speaking, 14 is pretty early on a ponzi scheme!


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## DeepState (7 July 2014)

Wow...look at the remarkable sequence of bids into a one-way screen market that, amazingly, met with hits within 10 to 15 minutes for same or remarkably similar volume.  This from 23rd June.  Must be a market micro-structure thing....nothing to see here.


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## skc (8 July 2014)

skyQuake said:


> Way to ruin the party man! Could have become lucky no.14 instead
> 
> Statistically speaking, 14 is pretty early on a ponzi scheme!




Haha. A couple of retailers (from CMC and Comsec) were able to get in.

But you can't do that with any volume. They will just withdraw the bids back down to $1.50 and leae you stranded forever (if you managed to pinch any meaningful volume). 

P.S.  It's technically not a ponzi scheme yet. There's no new money, just paper profits.


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## skc (15 July 2014)

Now suspended... I've never seen a suspension notice like this one before.

"Pending a review of the Company's satisfaction of conditions for admission to the official list of ASX".

From memory there's something to do with achieving liquidity, shareholder spread and asset levels etc...

But really... how they let it run for so long and do nothing but issue speeding tickets. ASIC is the market regulator FFS, not a traffic cop.


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## McCoy Pauley (18 July 2014)

skc said:


> Now suspended... I've never seen a suspension notice like this one before.
> 
> "Pending a review of the Company's satisfaction of conditions for admission to the official list of ASX".
> 
> ...




Matthew Stevens at the AFR wrote about Fifth Element Resources in one of his columns earlier this week.  The company does not meet the minimum shareholder requirement to be listed on the ASX.  Not sure how it was allowed onto the boards on the first place (I'm not sure whether it's a backdoor listing).


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## skc (17 April 2015)

McCoy Pauley said:


> Matthew Stevens at the AFR wrote about Fifth Element Resources in one of his columns earlier this week.  The company does not meet the minimum shareholder requirement to be listed on the ASX.  Not sure how it was allowed onto the boards on the first place (I'm not sure whether it's a backdoor listing).




Lol... so FTH applies for voluntary de-listing because it can't meet the spread requirement.

What a mess for anyone caught up in it. Thankfully, it wouldn't be too many people as they didn't meet the spread requirement!

Surely the ASX needs to take some responsibility for letting this thing list in the first place?! How many records have FTH set in it's 2 months trading history?

- 45 days of consecutive rises
- 3500% return in 8 weeks
- From 3 Jul close of $3.50, a total of 800 shares changed changes to push the price up to $7.50. In other words, about <$5k worth of transactions increased the market cap by ~$160m.

Unbelievable.


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## System (27 April 2015)

On April 24th, 2015, Fifth Element Resources Limited (FTH) was removed from the ASX's official list at the request of the Company, pursuant to Listing Rule 17.11.


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## VSntchr (27 April 2015)

skc said:


> Surely the ASX needs to take some responsibility for letting this thing list in the first place?! How many records have FTH set in it's 2 months trading history?



Perhaps emailing from a hotmail address should have set off a few warning bells.
Maybe this is another record too :


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