AVZ is gone. This is not my first time experience that a stock got delisted. I am used to it. While have never had any money back from a delisted stock but I am hopeful I will get my money back from this one. The huge corruptions took place by DRC official with AVZ are now coming to light slowly. Everything takes time in DRC. They couldn't even form a government 3 months after the election. All the court cases will eventually have verdict and it looks like in AVZ's favour. Having said that we are in this situation due to utter incompetence of our BOD. They didn't have enough experience to run a billion dollars company in Africa. They couldn't even manage a relationship with the smaller partner representing government. To run a big company in Africa, you have to have this expertise. NF is fantastic geo but I am not sure he is a good negotiator, a good CEO. Anyway now we don't have any choice but to trust him to run this company to the ultimate victory. They should have taken salary cut long time ago and reduce the admin cost to a minimal to avoid fund raising from LOCKE at this very critical stage.
Avoiding shares that involve Africa is my valuable lesson also avoiding any company that have anyone from AVZ BOD.
It's my frustration only. No suggestion or advice.
AVZ Price at posting:
78.0¢ Sentiment: Hold Disclosure: Held
