Copper 360 CEO Jan Nelson
JSE-listed copper miner Copper 360 has informed shareholders that it has noticed "unusual and uncommercial" trades in its shares, resulting in a substantial drop in its traded price.
"The trades in question have continued on a systematic and sustained basis for a period of several weeks," it says in a notice published on the JSE's Stock Exchange News Service.
Copper 360, led by CEO Jan Nelson, notes that it has requested the Financial Sector Conduct Authority (FSCA) to investigate potential breaches of the Financial Markets Act in relation to the trades.
"If the investigations reveal impropriety, the company intends to take steps to recover any losses it may have sustained as a result, and to prefer criminal charges against responsible individuals and institutions," it states.