CGB (ASX) Just my thoughts

Originally posted by Neil1959 ↑

With respect to those who are now voicing their concerns and objections re the reply, the Board posted in here tonight. Please be aware that the Board was genuine in its intent to help our shareholders in getting more details about the anns. In fairness, we did give the forum a chance to accept, or voice their opposition to having this be posted.

The role of a Company rep is to do exactly what our critics don't want us to do. That is. to answer and reply to questions in a forum like this. Companies have been invited by HC to send their reps to answer questions, clarify statements and announcements, and post information known to the market. Critics will always be there. My role has been to also read the mood of the room, and when necessary take a step back, if required, when things get out of hand. We have done that as well, of late.

The company stands by its comments. We are confident on the path we have set and will continue to make sure our shareholders get information into their hands that will help them understand what the company is doing during this transformation period.

Shareholders are invited to contact the Company directly about any concerns or questions they may have. We were very happy to post the reply tonight to help people understand a little more about the reason why we were restricted in answering questions on MCL over the past 11 months. For those who need to read the information, it has been posted for you to read and digest, with thanks from your Board.

Neil1959
QBL HC rep
QUEENSLAND BAUXITE LIMITED

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Hi Neil, no objections from me on the additional disclosure. There are two issues in my mind:

1. The board tends to over promise and under deliver. For example, harvest yields, availability of Cantab pills, bauxite off take etc. There is way too much hyperbole in the announcements. Can I suggest the board state the facts and contain their excitement until there is greater certainty before announcing the next achievement. No disrespect to those involved, but the difference between 80 tonnes and 500 tonnes is quite unbelievable and the follow up expalination whilst detailed does raise some concerns about the diligence pf those involved in making the forecast. To my mind, experienced farmers would err on the side of caution as far as whether is concerned. If the board promised less, there would be no need to explain.

2. The announcements could be more succinct and fact based. Would be good to see valuations backed by expert opinions rather than the market price for QBL is the best valuation. Not sure that we should trust the punters on a spec stock to properly value the asset.

Just not two cents worth. Hope the board sees this as constructive.