That's a pretty shallow view Joenes - over the years I heard all the comparisons between Exco and CDU - One was a reputable well respected switched on comapny and the other was run by a cowboy.
In the end the Exco directors put up the white flag because when they needed to raise money to build their own plant their market cap and share price was to low and would have created massive dilution so the best option was to take the upfront money from the Xmen and go back to exploring only to be ultimately shafted by Ivanhoe and once again shareholders taking a fraction of what could have been.
From the outside it looks to me as the same fate awaits AOH shareholder who also have reportedly quality management- So which way is the best. At this point in time the cowboy is going mining and has grown the company to almost a billion market cap with under 200m shares on issue.
Surely a stockmarket investment is about creating shareholder wealth and the other mob have clearly done a better job than AOH and SFR have well and truly outplayed CDU.
Bleating on about true value being ultimately reflected quite often does not come to pass as per the Exco scenario - Nothing I have read in the media reports suggests a preference to go mining -If that is AOH preference then why dont they issue a ASX release saying as much.
AOH Price at posting:
25.0¢ Sentiment: None Disclosure: Not Held
