Meerkat, thanks for your posts. They give me the perfect opportunity to bring this up ... again.
As shareholders, we choose to invest our equity with certain companies, and in doing so we (collectively) hire a team to manage that money and further our interests. By virtue of their position, management should end up knowing more about our investments than we do. If they don't, then my strong suggestion is that you sack them, and hire someone who does, but that's for another discussion.
Reading your posts, it appears that you believe you know more about the situation with Merelani than management do. And in that regard, you are well within your rights to "clear out of KNL", although your constant posting disclosure of "not held" would indicate that your clearance sale won't be substantial.
I obviously don't know as much as you do about Merelani, as you seem to have done an inordinate amount of homework on the fundamentals of the business and it's prospects, and I'm just a silly little short term trader who reads tea leaves and charts and makes investment decisions on that basis. Regardless, you have come up with what you believe is the correct call to "clear out". I thought I'd go through our company announcements to find out exactly what the company has done to address this problem you have highlighted, as I was understandably concerned that management had wasted a number of years pursuing a deal that was obviously a lemon. (incidentally, the same management who know nothing about graphite, and who fell into a puddle by accident and came up with the first binding graphite off-take on the ASX. How lucky must they be?)
So I found someone specific who might know a little bit of info about Merelani.
Mr Meerkat, meet John. John likes long walks on the beach, moonlit nights, and aromatic foot massages. He also happened to be in the right place when they were giving out door prizes at the local RSL, and ended up winning the Non-Executive Chairmanship of Kibaran Resources. What was his relevant background to fulfilling his expanded role with KNL? Apparently, not much ....
Non-Executive Chairman: John Park
John graduated as a metallurgist and has a long record of success in technical, financial and management
aspects of the minerals industry. He has held executive and board positions for a number of UK, Canadian and
Australian listed and unlisted companies, both start-up and established, including Selection Trust, BP Minerals,
Cluff Resources and Longview Capital Partners.
He was a Founder and Executive Director of the highly successful TSX listed SAMAX Gold, since acquired by
Anglogold-Ashanti, which along with several major gold discoveries including Golden Pride and the eastern
extensions to Geita, now in operation in the Lake Victoria Goldfields, developed and operated the Merelani
Graphite Mine in Tanzania in the late 1990s. As chairman of Graphtan Limited, SAMAX’s operating subsidiary
which held the Mining Licence at Merelani, John was directly involved in and ultimately responsible for the
design, construction, financing, marketing and operational management of what was then Tanzania’s first new
mining project since gaining Independence in 1961.
AIM listed African Eagle Resources, where John was a founder director and chairman until the end of 2009,
discovered both the Myabi gold and the Dutwa nickel projects, also in Tanzania.
John joined the Kibaran Board in October 2012.
Meerkat, I encourage people to post all views, but I also suggest they post some evidence or link or something to support their position, otherwise they really have very little credibility when they throw out unsubstantiated statements, and finish their posts with cute little statements like "in my opinion".
I am very comfortable with where my significant investment dollars are currently placed, and I am very comfortable with the management team that is in place to manage and grow those dollars. An expert on Merelani is looking after Merelani, and I really can't ask for much more than that.
Although, of course, that's just my opinion.
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