any comments , page-11

There is no two ways about it that the Management is a total basket case and clearly showed that all they care for, is their own jobs and where the next dollar is coming from to keep them there.

When they needed more funds, they mined a bit of gold and sold it to keep themselves going and paying themselves some bonuses and more pay increases, and WE HAVE GOT NOTHING. NOT EVEN 1 CENT AS A SPECIAL DIVIDEND LOL. Isn't that contempt..?????

Now, can anyone explain to me how on earth they (Management and Board) have the intestinal fortitude to continuously put forward Remuneration Resolutions with pay increases, is totally beyond me and totally beyond belief. If they would have got the sp to an acceptable level, well and good. But, lets face it where are we now that is different than what we were umpteen years ago.

And yet we have shareholders, (yes even in HC), that are voting with their feet and continuously voting YES for those resolution believing in what the Management is dishing out during the AGM, and telling them time and time again, which never comes to fruition, and when Management have no intentions whatsoever to keep to those promises. GO AND FIGURE THAT ONE OUT. I SIMPLY CAN'T.

This company has been going since Adam was a boy, and boy o boy, where are we today that is different than then...???

As for the ASX they don't give a hoot about small companies (nor bigger ones at times). Because, if they wanted to, they could start asking questions to the Management. BUT, YET THEY DON'T. Too small a fry.

ASIC is just as bad. Small Companies flow low under their radar, because all they are after is the big fish where there is money to pay their costs and collect big fines, if and when they are imposed upon them.
If they say that they have caught out AAR, who cares. IT is so small, that many people never even heard of them. But if they say they caught out FMG, well it is a totally different story. That news will make front page.

So, we as Shareholders are left wondering and without any guide in a storm on the high seas, (and with a very small dingy my I say), without anyone caring about us. That, IMHO, is the problem of investing in spec companies. AND, LET ME TELL YOU, THE MANAGEMENT KNOWS THAT FULL WELL THAT, THAT IT IS THE CASE, AND PLAY ALONG TO SUIT THEMSELVES TOTALLY UNCHECKED.

Should we do something about it. Too right we should. But lets start when the next AGM is on. Vote NO for every proposal they put forward. Whether it be elections, reelections, remunerations, new share issue, everything. We will find out what their next step is then. Especially when they find out that it is a well overdue time to start their pension going.

Apathy is what they have been playing on, for far too long. And we have simply obliged them with it all along.

For that matter, if we really wanted to, we could even force them into calling an EGM if we have enough numbers. They will sit up and start to take notice if that was the case. Mark my words.

Good luck, we may need it.

Buddy