Reporting laggards named, shamed

Once again, the culprits suspended for non-reporting have a strong resources flavour.

Pollster Gary Morgan’s eternal gold battler Haoma Resources (HAO, 10.5c) features among eleven stocks accorded the embarrassment of being suspended from trading for failing to lodge their full-year accounts (annual reports) by today’s pre-trading deadline.

As is usually the case, the culprits have a strong resources flavour, with seven of them in the mining (or more accurately, wannabe mining) sector.

Not all of the suspended stocks are basket cases and for some their stay in the ASX naughty corner might be brief. But most have a history more tortured than that of the Western Bulldogs and Cronulla -- at least before the weekend -- and this is reflected in their lowly share prices.

Haoma aside, the other suspended explorers are Australia United Mining (AYM, 0.3c), Cleveland Mining (CDG, 7c), Dynasty Resources (DMA, 5c), Eastern Goldfields (EGS, 37c), Gladiator Resources (GLA, 0.6c) and Mustang Resources (MUS, 4.3c).

In the industrial sector there’s the internet TV fast starter GoConnect (GCN, 0.7c), which could be kindly described as ahead of its time.

There’s also RBR Group (RBR, 0.9c), SIV Asset Management (SAM, 5c) and Property Connect (PCH, 1.3c).

The latter, a rental property technology provider, is an especially disappointing inclusion, having back-door listed only last March, after raising $2.5m at 5c apiece.

Some at least offered an explanation. For instance, a contrite Gladiator Resources blamed the lack of timely audit clearance of its Uruguayan subsidiaries and said it hoped to file the paperwork tomorrow.

“The company offers its sincere apologies to all stakeholders and undertakes to provide further updates in the event that audit clearance is not provided in the next 24 to 36 hours,’’ management says.

GoConnect blames a likely two-week delay on an audit delay “due to issues including directors’ revaluation of (an) asset yet to be resolved with the auditors.’’

Go Connect on Friday said it planned to increase the carrying value of its stake in a new media company, Go Green Holdings, by $7.5m for the 2015-2016 year. “A satisfactory resolution will lead to material improvement to the statement of financial position of the company,’’ the company says.

Gold developer Eastern Goldfields says it was not able to lodge on time due to accounting and valuation issues relating to Stirling Resources, which used to own the Davyhurst and Mt Ida tenements.

With a market valuation of close to $200m, the well-funded Eastern Goldfields is making good progress on recommissioning the Pilbara mines and should grace the ASX boards again by the end of the week.

We’re not so upbeat about the Nasdaq-listed retractable syringe maker Unilife (UNS), which beat the rush with a voluntary suspension request on Thursday.

The hapless serial loss maker can’t finalise its accounts because of an internal probe into “violations of its policies and procedures and possible violations of law and regulation” by former CEO and founder Alan Shortfall and erstwhile chairman Jim Bosnjak.

Unideath, er, Unilife will resume trading “no later than” November 7.

The Australian accepts no responsibility for stock recommendations. Readers should contact a licensed financial adviser. The author does not own any of the stocks mentioned.