As far as slide 3, headed 'Our Strategy', of this presentation goes, I'm glad they dropped it from the Diggers and Dealers presentation. It would be hard to argue points 2-4 of strategy, and yes there are only 4 points. Maximizing mill throughput (otherwise sweating the assets) hasn't been happening (point 2), 'financial discipline' (in point 3) is questionable at best since our net cash position has gone backwards and the debt we have taken on to purchase Dargues, for what it is returning indicates we have overpaid and taken on a huge risk, and the 'cost improvement' (point 4) is hard to argue if one checks the AISC. Maybe the points are worthwhile strategies. Given our performance on them it seems sensible to pull the 'Strategy' slide from presentations until the evidence supports the claims it makes. I really did shake my head when I first read it. I hope the Board reads this and does something about delivering what it claims.
AMI Price at posting:
37.8¢ Sentiment: Hold Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)