Anorak | Whitehaven Coal v Jonathan Moylan

Whitehaven Coal v Jonathan Moylan

by | 10th, January 2013

SURELY this will see the fraudsters end up in prison:

Environmental campaigners sparked a 9pc dive in the share price of Australian miner Whitehaven Coal after issuing a fake press release regarding a multi-million dollar funding facility.

Harmless fun:

The fake press release was issued by Frontline Action for Coal. Spokesman Jonathan Moylan said: “The future of our farmlands, our forests, our health, our climate – these are the biggest threats humanity faces and they are far more important than concerns over liability.”

The fall in Whitehaven’s share price wiped A$314m off its stock market valuation and brought a halt to trading in its shares.

The  ABC :

The activist who caused a $314 million temporary plunge in Whitehaven Coal’s share price could face 10 years in jail, despite having no intention of personally profiting from his fake press release.

Does that matter?

Says Moylan :

“There may well be consequences for me, and fairly severe consequences, time will tell if that’s the case, but my concern is what happens to society at large and what happens to the local community.”

Anyone on his side ?

SW Greens senator Lee Rhiannon has taken to Twitter to praise the man who temporarily wiped more than $314 million from the value of Nathan Tinkler’s Whitehaven Coal on Monday morning. “Congrats to Jonathan Moylan, Frontline Action on Coal, for exposing ANZ investment in coalmines,” Senator Rhiannon tweeted yesterday.

It is all about morals?  Tim Blair notes: “…in 2008, when young Jonathan took part in a Uniting Church seminar that asked:  Would Jesus Burn Coal?  Well, let’s see what the  Bible  has to say:

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Posted: 10th, January 2013 | In: Money Comment | Follow the Comments on our RSS feed: RSS 2.0 | TrackBack | Permalink