AMA calls in bankers to mull options

Disturbing article in the AFR this morning asserting AMA have called in investments bankers to advise on growth strategy. They allude to growth coming though acquisitions/mergers & are scoping was of funding. That's disappointing that they need bankers to formulate strategy, that's the role of the board & management should be capable of executing it without having to go out and be led by bankers that will of course recommend & subsequently be given mandates to raise capital for 'growth'.

I thought better of this company and had high hopes that CB would sweat the assets they have accumulated & hoped that incremental growth would come through better management of assets & small bolt on acquisitions. Looks like they're preparing the bazooka for a sizeable target. The last raising was what, well north of $1? they paid thru' the nose for it under the guise of 'growth'. See it time and again where the executive can't adequately grow a business, get in 'strategic advisors' and they make overpriced acquisitions to hit their KPI's and then get a windfall. Sitting on a small loss here but have no confidence now going forward, the business should be cracking along and it feels like a rudderless ship.