Ann: West Erregulla CSBP GSA Update, page-184

I have said many times I am a seeker after truth in my investments. I do have a number of investments but strangely for those with ASX dominant myopia on HC, they are not on the ASX.

I am not going to answer all of your questions, I don't see why you or any other poster here has the right to cross examine me. No-one asks Wot (for example) lists of intrusive questions as to why he publishes so much obvious nonsense.

I will say this. I started to comment on Strike because I reached a point of such frustration with two things that I felt compelled to weigh in. The first factor was the endless, mendacious distortions of fact preached by Stuart Nicholls which passed for announcements and presentations until the SE 2/3 debacle (after which the 180degree volte face on the number and content of announcements became rather obvious) and the second was the equal amount of credulous twaddle and puffery talked by many of those on HotCopper about Strike.

Tooter, who is much derided here, has often listed the outrageous claims made by Nicholls and Strike over many years which have proven to be no more than vapourware. They are legion and the Strike Board should be ashamed of having allowed them, indeed, having approved them. If I knew who Tooter was, I would shake him by the hand for persevering.

Bottom line, the only fact which speaks in the end is this:


Strike's price start to go up at the start of (and climbed greatly during) the Warrego bidding war and then fell disastrously afterwards. One might credibly argue that it went up on the expectation that Strike too would be taken out, whether by Hancock or someone else. It hasn't been. I wonder why - overvalued perhaps? Who knows except all those who sat on their hands and kept their wallets closed.

In many, if not most public companies in most major markets, the CEO, and possibly the Chairman would have no choice but to fall on their swords (or be pushed if reluctant) to take responsibility for overseeing such a huge loss in shareholder value. That they did not says much for them and for the rest of Strike's pusillanimous Board and none of it is complimentary.

I cannot understand why so many people seem confused about why I don't sell. READ MY LIPS. It's nobody's business but mine. I can sell or hold as I choose. You cannot read anything into that.

The biggest problem with the Strike threads on Hotcopper are that they are appear to be populated by rabid Strike fanboys and Nicholls worshippers who cannot accept any form of detailed analysis or criticism might be correct. Almost no-one argues the facts and looks for the fundamentals of the situation.

Abuse, insult and derision plus, at times, near defamatory imputations of motive are the feeble weapons of the weak-minded and these appear to be many here. Try reading the posting guidelines for a change.....