Well posted today Digger. I have started putting these tossers on ignore they are just angry old men with a grudge against the company for disappointing them. Well duckies as I have posted not long ago my investment is down $400k and I am not happy about that but I am doing everything I can to understand that the road map into production that the company has put forward will be successful.
On another note I read the annual report quite closely recently and it is clear to me that the new board has taken on board the complaints made about excessive salaries for directors. Most of the directors who caused the original complaints are now gone and the company has got external advice on remuneration of directors so that issue is now back on track with what most would be satisfied with. So that is a big tick from me as it was really not good in past years.
I had a good read of the annual report and I am pretty happy with the contents of the report. The new Chairman has a very good industry background and for the moment I am very relieved we have a competent Chairman at the helm. In addition all of the senior management positions appear to be in the hands of well experienced people.
It is still early days but it is another tick from me.
So it really now comes down to delivering on additional offtake agreements for stage one and implementing the construction phase to finally get the production of the range of products into customers hands. It is going to take several years at least to get to a position where we will feel more comfortable about our investment in ADN. I am quietly comfortable that we are now on the right track and have the right board or at least a much better board to get us to where we want to be.
Cheers W2
ADN Price at posting:
4.3¢ Sentiment: Buy Disclosure: Held
(20min delay)