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NIU

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2.0¢ niuminco group limited

Gunfight at the O.K. Corral, page-18

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531 Posts.

38

23/07/18

11:31

Post #: 34516992
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Originally posted by DealLooker ↑

Is there a problem with providing factual and honest opinion on here for others, another side for consideration other than what some are promoting - that all is rosy in this very smelly garden.

This company is full of many excuses as to why it can not / does not ...

This company makes lots of promises it does not fulfill ... (reminds me of a line in a movie "your butt is writing checks your body can't cash")

Significant dilution every year, spins off assets with no return for shareholders, no change to remuneration strategy despite being rejected by majority on three occasions, lack of transparency as to operations and other actions (loss of power - discovered through small print in some announcement not even related to power, at least twice the company has received winding up notices - these only occur after ignoring (i.e. not responding) to notices of demands and then a formal statutory demand)

So why am I here - like most punters here the area is renowned for being rich in Au, the problem IMO is current management have no idea how to successfully exploit it - and with a balance sheet looking the way it is one would have to assume that there are some long-term agreements for repayment in place otherwise the company would be in breach of s588G of the Corporations Act (debts inexcess of $2M with only $3,000 in the bank - simple math really [refer Annual Reports and Capital Raising and Quarterly Reports and responses to ASX questions]

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There's no problem at all. Just as there's no problem with anyone questioning another's motives.

NIU Price at posting: 0.2¢ Sentiment: Buy Disclosure: Held
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