MAK has been quiet and hiding of late. Todays announcement to the market was their first since the last quarterly report at the end of April 2014 - almost three months or ten weeks to be exact. This does not spell confidence in any language. With MAK not participating in the share buy back period over the last twelve months as announced today, only adds to the negative sentiment surrounding the company at this present period.
They do not have a proven track record for implementing successful new strategies. Could only find a reference to MAK signing a memorandum of understanding with Balamara Resources to create a consortium tendering for a phosphate project in Togo, West Africa. This was reported in January 2013.
In what seems to be MAK management policy, no further announcement has been made to share holders about this consortium and the success of this tender submission since then. Management is no different at the moment in keeping the market up to date with the progress of the IHP plant.
There is some indication in the last quarterly report by management that they are considering opportunities both inside and outside of the phosphate sector while the IHP process and plant is being proven or resolved.
Well whatever opportunity this is announced to be, will have to surpass previous endeavours undertaken by the company and provide success to shareholders which it has not yet delivered.
Management has a lot to address to its shareholders.
AEV Price at posting:
8.4¢ Sentiment: None Disclosure: Held
