re: Ann: 2011 AGM - Chairmans Address and MD ... Triage,
3/8/2011 page 7... WD target production 80koz.
10/5/2011 page 8 and 11... WD target production 80kz.
at the last agm the company was indeed predicting 65koz for 2011/2012 and the share price was sitting between 70-110c.
I hope you won't be surprised if the share price backtracks to 90c... in line with falling guidance and the retraction of recent guidance. And I hope you realise FY09-10 production only accounted for 7 months of production. And that FY10-11 80koz production was made after a 1st quarter result of 25koz. At the time I didn't think it'd take much genius to work out that in 10 months of production for 85koz equated to 8.5koz per month and on a full year's production timeline would amount to 102koz. It was disingenuous of the board to set low-ball targets (I presume they set it low so they could claim bonuses for 'apparently' exceeding targets).
"I’m sure that those shareholders who participated in the last capital raising are well pleased with the growth in value from the last issue price of 53 cents."
Surely the board has had basic Math education? Perhaps not.
Ann: 2011 AGM - Chairmans Address and MD Presenta, page-17
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