The thread subject reads " Do Something" I guess this is aimed at the POZ directors. In all fairness of the first poster it was posted prior to the latest quarterly coming out.
Take a read of the recent quarterly activities report and tell me they haven't done something last quarter. I'm satisfied with the work that has been achieved thus far and while the main focus is still phosphate and Highland Plains the directors haven't been sitting idly on their hands whilst seeking out a strategic partner. This is evidenced by the dot points made in the quarterly.
I know everyone is growing impatient with the slow advancement of Highland Plains but you can't forcibly make other enterprises invest in POZ. You can only do your best to present an economically feasible case to attract a strategic partner. I'm sure it will eventually come, particularly with the future impending food crisis and escalating phosphate prices.
The point is that management have received offers but have rejected them and not presented those offers to shareholders as they were not high enough and would not have been in the best interest of POZ shareholders. I believe management aren't sitting on their hands with Highland Plains but are working as diligently as possible to cut a deal with a strategic partner that would be in the best interests of shareholders.
It is easy to level criticism at POZ management, particularly in view that the development of Highland Plains appears to be a slow moving organism. Some small cap mining and exploration companies don't appear to be doing much and in my view the only mining going on is the directors mining the pockets of shareholders by drawing a salary each year and spinning a project out as long as possible.
I just wanted to make that last point because I want to air my opinion that I don't think it applies to POZ directors. It has been a long road, I've been in since day one of listing. I've had the long term view of throwing this one in the bottom drawer and whilst my patience would have run out on other stocks taking this long I've persevered with POZ.
Why? I believe Highland Plains to be a highly economically viable project once up and running. I have also met with key management face to face and am satisfied with their ability to bring this project to fruition and that they are genuine in acting in the best interests of shareholders.
POZ Price at posting:
10.6¢ Sentiment: Hold Disclosure: Held
