In this debate, I have to be on Zzedds side of the argument. The company was able to give tonnes and grade of copper for the different stockpiles from the the special excavation pit last year.
I rang the company late in the year and pretty much got the answer Gung has stated about not knowing exact grades in every truck load etc. However that is no excuse for a company to tell it's owners how much ore they have in each of the piles, even if it is something like...
"between x and y grade, z tonnes" and do the same for all 12 stockpiles.
I'm a part owner in this, and have a right to know what my stockpiles are.
We, as owners, were also told at the AGM last year DSO sales in Feb- March. That statement/committment has not been kept, even though it was in answer to a direct question by a shareholder. As it has not been met, there should have been an explanation to shareholders of why that committment was not kept.
I still hold many thousands of shares, yet on Thursday I sold some of my holding, the ones bought in the rights issue, for tax loss reasons (I need the deduction). I will buy the others back if we as owners start getting the numbers and timelines, and keep them.
No matter what you think of the resource and the company, despite performing brilliantly well in getting to the stage they have, the company needs to start acting professionally.
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