Canada bans Palmer's Gladstone Pacific Nickel

GLADSTONE Pacific Nickel Limited, 95% owned by Clive Palmer, has been banned by the Toronto Stock Exchange for failing to adhere to Canadian corporate disclosure laws.

GPN is required under Canadian law to send its annual reports and other materials to the TSX even though it delisted its shares there in 2008.

It was reportedly banned because the company continues to be regulated by the Ontario Securities Commission and may still have Canadian shareholders.

GPN executive director Blair Brewster said according to the register the company has no shareholders in Canada.

"The whole register has been transferred to Australia," he said.

Regarding the ban, Mr Brewster said: "It's just a case of sending over the audit account."

"There's nowhere the guys can trade our shares.

"Mr Palmer could trigger a takeover at any time.

"All our shareholders know where we are on this."

The Ontario Securities Commission issued the order on June 14 last year for "failure to file annual financial statements, failure to file interim financial statements, failure to file an annual or interim management's discussion and analysis or annual or interim management report of fund performance, failure to file a certification of annual or interim filings and failure to pay a fee required by the Act or the regulations".

GPN is planning to establish a AU$3.85 billion long-life, nickel and cobalt refinery in the Gladstone State Development Area.



How the most improved Gympie region school made it happen

premium_icon How the most improved Gympie region school made it happen

The analysis compared each GYmpie region school’s combined results for each NAPLAN...

NAPLAN: Most improved schools in Gympie region in past 5 years

premium_icon NAPLAN: Most improved schools in Gympie region in past 5...

An analysis of five years’ worth of NAPLAN results has revealed the Gympie region...

5 year NAPLAN trend: How every Gympie region school performed

premium_icon 5 year NAPLAN trend: How every Gympie region school...

The third best performing Year 5 school was St Patrick’s Primary School, in Gympie...