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Kimber Receives Notification Letter from the NYSE MKT Regarding Its Stock Price
Published : May 07, 2013
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Mots clés associés :   Finra | Manipulation | Report |

VANCOUVER, BRITISH COLUMBIA--(Marketwired - May 7, 2013) - Kimber Resources Inc. (News - Market indicators)(NYSE MKT:KBX) (the "Company" or "Kimber") announced today that it has received a letter from the NYSE MKT LLC (the "NYSE MKT") notifying the Company that if it does not adequately address the low selling price of the Company's stock through a reverse stock split or otherwise raise the stock price to the satisfaction of the staff of the NYSE MKT within a reasonable amount of time, the Company will not satisfy the continued listing standards of the NYSE MKT set forth in Section 1003(f)(v) of the NYSE MKT LLC Company Guide and will be subject to continued listing review by the staff of the NYSE MKT under Section 1009 of the NYSE MKT LLC Company Guide. The Company has not yet determined what action, if any, it will take in response to this letter.

During the past two years, Kimber's management has identified repeated instances of unusual trading activity in Kimber's securities which management believes may involve naked short selling of the Company's common stock on the NYSE MKT and part of a market manipulation scheme. The Company has seen high volume selling at the beginning or end of the day on repeated occasions though regulatory filings from the Company's significant shareholders have not shown substantial changes in their ownership of Kimber's common stock over the two year period. In addition, SEC Rule 201 has been triggered 29 times since March 2011 with the rule often being in effect for multiple days at time. These periods include a large number of trading days in March and April 2013 (more complete details of the rule 201 trigger dates are shown in Appendix 1). Kimber has alerted the NYSE MKT, FINRA, IIROC, the British Columbia Securities Commission and the Securities and Exchange Commission (the "Regulatory Authorities") on several occasions to this continued unusual selling.

"Kimber is aware that 2012 and 2013 to date have been very challenging periods for the junior resource market generally," stated James Puplava, Chairman of Kimber Resources. "However, we believe that the unusual trading of Kimber on NYSE MKT has contributed to the decline in the company's share price during these difficult market conditions."

Kimber is a dual listed company with its common shares trading on both the NYSE MKT and the TSX. Kimber's listing status on the TSX is not affected by any action taken in relation to its NYSE MKT listing and all shares traded on the TSX and NYSE MKT are readily transferable between exchanges.

SEC Rule 201 acts as a circuit breaker. If an individual security declines intra-day by 10% or more from the prior day's closing price for that security as determined by the covered security's listing market, then Rule 201 applies the alternative uptick rule for the remainder of the day and the following day to the individual security. The alternative uptick rule permits short selling at a price above the current national best bid for that security. So when Rule 201 is triggered for a stock it means that the stock price has dropped by at least 10% triggering the short sale price restriction for the remainder of the day and the next day.

About Kimber Resources

Kimber owns mineral concessions covering in excess of 39,000 hectares in the prospective Sierra Madre gold-silver belt, including the Monterde property, where three gold-silver mineral resources have already been defined. The most advanced of these, the Carmen deposit, has been extensively drilled and has undergone detailed geologic modeling. The completion of the Updated Preliminary Economic Assessment for Monterde in 2011 represented a significant step forward for Kimber and supported further evaluation and more advanced economic studies at the Monterde deposits, with the 2012 Updated Mineral Resource Estimate Technical Report for the Carmen deposit representing a component of those activities.

Forward-looking statements

Statements contained herein that are not based upon current or historical fact are forward-looking in nature and constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such forward-looking statements reflect the Company's expectations about its future operating results, performance and opportunities that involve substantial risks and uncertainties. These statements include, but are not limited to, statements regarding the Company's belief that its low stock price is the result of naked short selling and/or an illegal market manipulation scheme designed to artificially cap the Company's stock price as well as the Company's belief that the Regulatory Authorities will, or have initiated an investigation of the unusual trading activity. When used herein, the words "anticipate," "believe," "estimate," "upcoming," "plan," "target", "intend" and "expect" and similar expressions, as they relate to Kimber Resources Inc., its subsidiaries, or its management, are intended to identify such forward-looking statements. These forward-looking statements are based on information currently available to the Company and are subject to a number of risks, uncertainties, and other factors that could cause the Company's actual results, performance, prospects, and opportunities to differ materially from those expressed in, or implied by, these forward-looking statements. Factors that could cause or contribute to such differences, including, but not limited to, risk factors discussed in our latest Annual Report on Form 20-F for the year ended September 30, 2012. Except as required by Federal Securities law, the Company does not undertake any obligation to release publicly any revisions to any forward-looking statements.

Appendix 1

Kimber Resources Inc. (News - Market indicators)(NYSE MKT:KBX)

SEC Rule 201 Trigger Dates from March 2011 to April 30, 2013

  1. March/24/2011 to March/28/2011
  2. April/12/2011 to April/14/2011
  3. May/17/2011 to May/19/2011
  4. June/6/2011 to June/8/2011
  5. June/13/2011 to June/15/2011
  6. August/4/2011 to August/8/2011
  7. September/22/2011 to September/27/2011
  8. October/3/2011 to October/5/2011
  9. October/20/2011 to October/24/2011
  10. November/21/2011 to November/23/2011
  11. December/8/2011 to December/12/2011
  12. December/28/2011 to December/30/2011
  13. May/15/2012 to May/22/2012
  14. June/5/2012 to June/7/2012
  15. August/2/2012 to August/6/2012
  16. September/14/2012 to September/24/2012
  17. December/10/2012 to December/12/2012
  18. December/14/2012 to December/18/2012
  19. December/18/2012 to December/20/2012
  20. February/5/2013 to February/7/2013
  21. February/20/2013 to February/25/2013
  22. March/7/2013 to March/12/2013
  23. March/13/2013 to March/15/2013
  24. March/21/2013 to March/25/2013
  25. March/25/2013 to March/27/2013
  26. April/3/2013 to April/5/2013
  27. April/9/2013 to April/12/2013
  28. April/15/2013 to April/17/2013
  29. April/23/2013 to April/25/2013
Neither the TSX Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Exchange) accepts responsibility for the adequacy or accuracy of this release.

Kimber Resources Inc.
Renee Brickner, BSc (Hons) Geol.
Vice President, Investor Relations
(604) 669-2251 or North America Toll Free: 1-866-824-1100
(604) 669-8577 (FAX)
or
Kimber Resources Inc.
Gordon Cummings, CA
President and CEO
(604) 669-2251 or North America Toll Free: 1-866-824-1100
(604) 669-8577 (FAX)
kimbernews@kimberresources.com
www.kimberresources.com

Kimber Resources Inc

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CODE : KBR.TO
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Kimber Res. est une société d’exploration minière d'or et d'argent basée au Canada.

Kimber Res. détient divers projets d'exploration au Mexique.

Ses principaux projets en exploration sont MONTERDE CARMEN, PERICONES, SETAGO, MONTERDE CAROTARE et MONTERDE VETAS MINITAS au Mexique.

Kimber Res. est cotée au Canada, aux Etats-Unis D'Amerique et en Allemagne. Sa capitalisation boursière aujourd'hui est 15,7 millions CA$ (14,2 millions US$, 10,4 millions €).

La valeur de son action a atteint son plus haut niveau récent le 29 décembre 2006 à 3,95 CA$, et son plus bas niveau récent le 16 août 2013 à 0,07 CA$.

Kimber Res. possède 104 700 000 actions en circulation.

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Rapports annuels de Kimber Resources Inc
2007 Annual Report
Annual Report 2006
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10/10/2013and Invecture Announce Take-Over Bid Circular and Directors'...
20/09/2011appoints TIm Haldane to the board of directors
Rapports Financiers de Kimber Resources Inc
01/10/2013Announces Year End Financial Results
15/02/2013Announces Second Quarter Financial Results
02/10/2012Announces 2012 Year End Results
02/10/2012Announces 2012 Year End Results
15/05/2012Announces Third Quarter Financial Results
14/02/2012Announces Second Quarter Financial Results
17/05/2011ANNOUNCES THIRD QUARTER FINANCIAL RESULTS
16/02/2011ANNOUNCES SECOND QUARTER FINANCIAL RESULTS
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16/04/2012Continues to Drill High-Grade Silver at Monterde Including 4...
26/01/2012Intercepts 7 Metres of 18.3 G/T Gold And 374.3 G/T Silver in...
20/01/2012Exhibits at Vancouver Resource Investment Conference
31/08/2011Intercepts 2.3 Metres of 22.7g/T Gold Below Carmen Gold-Silv...
27/07/2011Intercepts 10 Metres Of 11g/T Gold Below Carmen Gold-Silver ...
01/06/2011(Monterde Carmen)Intercepts 4.9 Metres Of 78.4 G/T Gold And 127.9 G/T Silver ...
27/05/2011(Monterde Carmen)Intercepts 5.2 Metres Of 51.9 G/T Gold And 1,076 G/T Silver ...
03/03/2011(Monterde Carmen)Intercepts 8 Metres Of 1.6 G/T Gold And 224 G/T Silver At Ca...
07/02/2011(Monterde Carmen)First Drill Results From Carmen Gold-Silver Deposit, Monterd...
27/07/2010Filing Of NI 43-101 Preliminary Assessment Technical Report ...
02/06/2010(Monterde Carmen)Positive Preliminary Assessment For Monterde
26/05/2010(Pericones)Updates exploration activities at Monterde gold-silver and P...
20/11/2009(Monterde Carmen)High Grade Gold-Silver Mineral Resource Estimate
Communiqués de Presse de Kimber Resources Inc
25/09/2013Invecture Group to Make C$0.15 Per Share Cash Offer for Kimb...
22/07/2013Files Form 25
25/06/2013Receives Notification of Non-Compliance from NYSE MKT and De...
18/06/2013Extends Repayment of Debt to Sprott Resource Lending to Dece...
07/05/2013Receives Notification Letter from the NYSE MKT Regarding Its...
01/05/2013Reports Additional High Grade Gold and Silver Results From U...
18/04/2013Makes Changes to the Board
31/01/2013Announces Drawdown of $2 Million From Bridge Loan Credit Fac...
22/01/2013Files Preliminary Short Form Base Shelf Prospectus and F-3 R...
24/10/2012Announces Updated Mineral Resource for the Carmen Deposit
27/09/2012Initiates Underground Sampling at its Monterde Gold-Silver P...
20/09/2012Attends Chicago Hard Assets
31/07/2012Appoints David Hembree as VP, Exploration and James Mckay as...
18/07/2012Announces $5 Million Bridge Loan Credit Facility
29/05/2012Intercepts 2.1 Metres Grading 4.3 g/t Gold and 167 g/t Silve...
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28/11/2011Intercepts 16.7 Metres of 9.9 g/t Gold Equivalent at the Car...
12/10/2011Positive 2011 Exploration Results Underpin Kimber Plans to U...
31/08/2011intercepts 2.3 metres of 22.7g/t gold below Carmen gold-silv...
27/07/2011intercepts 10 metres of 11g/t gold below Carmen gold-silver ...
08/06/2011Announces Updated Preliminary Assessment and Mineral Resourc...
02/06/2011Intercepts 2 Metres Of 12.8 G/T Gold Below Carmen Gold-Silve...
11/02/2010Closing of Public Offering of Common Shares in the U.S.
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