Gina can't keep a financial secret

GINA Rinehart’s Hancock Prospecting has lost its bid for an exemption to having its financial reports lodged with the Australian Securities and Investment Commission.
Gina can't keep a financial secret Gina can't keep a financial secret Gina can't keep a financial secret Gina can't keep a financial secret Gina can't keep a financial secret

Iron ore heiress Gina Rinehart

Staff Reporter

In a statement, ASIC revealed that late last year Hancock Prospecting applied for relief from having to lodge financial reports including company accounts for a number of periods.

However, the corporate watchdog said it knocked back these relief applications on March 2.

Hancock has appealed the decision which will now be reviewed before the Administrative Appeals Tribunal.

The news comes after Hancock sold a 30% stake in its Roy Hill iron ore project to a consortium of Asian investors for $A3.2 billion last month.

This article first appeared in ILN's sister publication MiningNews.net.

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