Judge orders Alan Davison to disclose mole’s name

Lawyers for Mr Davison have refused to release further details about their client, including his age, job, work history or previous sources of income, which are the subject of speculation.

Legal battle

Legal battle will unfold over six tweets accusing Mr Kumova of insider trading, misleading the market and providing inside information about New Century Resources’ failed bid to buy the nickel mine of Goro.

Mr Kumova denies all allegations and seeks general and aggravated damages from Mr Davison for an ongoing campaign and the failure to publish an apology or retraction once informed of factual errors in the cases denounced in June 2020 .

Mr. Davison’s first tweet was posted on September 20, 2019. It read: “Domestic trade is alive and thriving on the $ ASX pirate ship. US $, uh cough cough. A Tolga Kumova special,, stops to explain a 33% spike in SP, and … oh, … uh … a hardware acquisition they forgot to tell the market about.

Mr Kumova claims the tweet had defamatory meanings including engaging in insider trading, misleading the market and engaging in illegal trading activities.

The defense filed in Federal Court on February 2 denies that the tweet conveys defamatory meanings under the definitions of prohibited or illegal insider trading set out in the Corporations Act.

The defense also contends that it is true that Mr. Kumova “pumped” or “filled” shares in various listed entities by disseminating misleading and exaggerated information regarding the shares in order to promote the share price.

Other tweets posted by Mr. Davison that Mr. Kumova claims to be defamatory relate to a 2020 fundraiser by New Century Resources, which included a $ 23.8 million investment from the ASX Independence-listed gold miner. Group.

On April 24, 2020, Mr. Davison tweeted: “Tolga Kumova certainly knows when to buy & sell a share with which he is intimately linked. I did this with $ SYR $ NCZ & now $ BGL. Tolga @KumovaTolga also needs to update with ASIC law. @asicmedia “.

Mr Kumova claims that the tweet (referring to the stock codes of Syrah Resources, New Century and Bellevue Gold) is defamatory in that he engaged in insider trading and illegally bought and sold shares in a a number of companies with which he is closely linked.

The defense argues that these defamatory meanings were not conveyed and invokes a defense of justification.

The defense also reserves the right to provide further details on the defenses argued by Mr. Davison, which means that other evidence or social media posts may be produced in court or in advance to support the defense.

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