Ann: Quarterly update and outlook - September 2022, page-31

The elephant in the room for all these conference calls is lack of accountability for longer term wealth destruction and the mirage that short term plans and promises are a redeeming feature.
it’s a chronic asx listed co boardroom syndrome, so hardly unique to AMI, but it is a fundamental flaw in the shareholder/boardroom relationship. The broker types are no use with their questions playing straight into the short term charades with their short term questions. They’re part of the broader asx cultural problem also. The dargues purchase without shareholder approval was/is a massive blunder. Who recommended buying a 50m drill spaced erratic orebody for top dollar, when 10m is required to understand profitability? It’s not that dissimilar a situation from their other assets in that regard, so how forgivable is that to miss?
just verbalising “we own this result” is a bit hollow.
each asset, good and (now) bad have a trail of short term compounding missteps. But management always corralling the focus on short term “recovery” plans when fronting shareholders misses the point that these short term platitudes and missteps are the very cause of their longer term abysmal performance.
they were handed federation completely independently of what was supposed to be an emerging mid cap. let that sink in.
they should hand back all over bonuses and put their fate to a circular resolution. If as Dan claims, he is an “investor” also, ironically it is in his best interests also - to concede shareholders deserve much better than these people can muster.