ATA/HAZ
Approval for sale of 35% of Joint Venture interest passed unanimously.
Now we at 25%!!!!
Another capital raising?
Sorry guys..... not this time, I've burnt too much cash.
I chuckled at section 1.7 of the Notice of General Meeting.
They couldn't do that properly when they had a 60% shareholding.
Was reading Company Presentation dated March '14.
They asked the question 'Why Invest In Hazelwood?'
Why, indeed?!
So called profits were going to buy out 40% stakeholder.
I also read the 'Change Management Plan' dated October '14.
They were going to accelerate study of upstream Tungsten projects-
Big Hill & Mt Mulgine.
Both of those assets went down stream pretty quickly to pay off debt.
It's been a tale of woe since the Vietnamese FeW facility was commissioned.
Not much benefit for the local community since it's construction.
The most poignant thing I can say about ATA/HAZ is that they've
never failed to disappoint.
A case study of over promising & under delivering.
Cheers,
Ultraman
ATA Price at posting:
2.5¢ Sentiment: None Disclosure: Held
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