Hi Arthurglaso, it was stated at the AGM by the directors that they had stumped up BUT can only do so with certain "windows of opportunity" as dictated by ASIC regulations.
One of those windows being straight after the AGM for example. I'm not saying that they have been buying lately, but from what I understood they have stumped up quite a bit of skin in the game (at higher prices?) in the past. How much etc is their business and no one elses. So long as they have their nuts on the chopping block as well, then that's all I want to know.
It came as a response to a certain member of the audience asking why the directors didn't step in to buy shares to keep the price propped up and also why don't they buy when they know the news is going to be good??????? before the market does! Yeah good one! was the general thought to this line of questioning.
Also I think that the shareholder in question went above and beyond and asked a few too many questions with regards to director's personal business and they were more than polite about it. More than I would have been that's for sure!!!!
Either way as stated just my opinion, these guys have a solid go forward strategy which will be to return value to the shareholders OVER TIME.
They have some good backing. Am I disappointed certain targets haven't been met as was hoped? Yes but that's the mining game. Look at PNA, MML, KCN etc etc. All decent companies but they have had their fair share of setbacks along the way.
We're not running a convenience store here, it's the mining game with high risk and high reward.
As I've stated above, this will play out over a longer term, but with the OECD countries printing money and creating an inflationary environment,then good old gold will be a true baromoter of real value and hopefully it's run is set to continue for the next few years this is one horse I'm willing to keep backing. Each to their own.
No guarantees but I don have faith in the board and hope this company turns out to be a HUGE SUCCESS for us and for them.
MUN Price at posting:
29.7¢ Sentiment: LT Buy Disclosure: Held
