Lawyers acting for the company, its former chief executive Tom Albanese, and its ex finance director Guy Elliott say charges brought by the SEC are 'plainly wrong.'
Miner posted a net loss of $984,928, compared to a $663,145 loss a year earlier, due to an increase in costs of developing its Tongo-Tonguma diamond project in eastern Sierra Leone.
According to minister Aurora Williams, miners with operations in the country currently spend $20 billion on support services a year and figure is set to increase.
Australia’s corporate watchdog has launched court action against the company, former chief executive Tom Albanese and chief financial officer Guy Elliott.