This was my first Flinders Mines AGM. And to be honest I was sceptical that attending would have any benefit to me as a shareholder. I expected the same old rhetoric … our hands are tied … we don’t know what BBIG are doing … we are working for all shareholders (wink!) … and yes we need more money.
I wasn’t disappointed. I got all that. But far from being a wasted trip, I got two significant benefits from attending. Firstly I got to meet some of my fellow shareholders. I wish I could have stayed for the after-meeting but alas my travel schedule didn’t allow. I hold with the comments posted by others – FMS minority shareholders are a decent bunch of men and women. Decent in character, integrity and commitment. It appears that “fair value” is a common goal. And yep I would say it’s not only me that is frustrated by the apparent lack of communication and action.
And secondly I got to view the FMS Board in action. Not their finest hour(s). I was less than impressed. But what occurred to me was that IF this Board was calling the shots, I would sell my holding as quickly as I could. But the reality is they are not calling the shots. They may be making minor decisions – and possibly working very hard (cough! cough!) But I have no doubt, they are NOT the decision makers. The elephant not in the room was Todd.
And so, AGM or no AGM, nothing essentially for me has changed. I believe I hold shares in a valuable asset. And that value will be realised. That asset will be developed – whether in conjunction with BBIG (most likely) or another third party. And there is a time-frame that is in the foreseeable future. The clock is still ticking. And although FMS Board is reluctant to announce anything other than facts – I am willing to bet (by holding my shares) that there will be announce-able news within the next 6 months – or 4 months even.
Thank you to the shareholders I had the pleasure of meeting – I appreciate your time and efforts both at the meeting and behind the scenes.
I close with the usual call-of-the-faithful
Good Luck to Us All and Hold Hold Hold Hold Hold
cheers
