Ann: Ceasing to be a substantial holder for NWM, page-2

‘Desperate times call for desperate measures’?

Benjamin Bell, 26/07/2018:
“Australian Mines’ shareholders will continue to benefit from exploration success of Norwest through the significant equity stake that the parent Company will continue to hold in the new entity, and I look forward to seeing the future results from more focused exploration across the Norwest asset portfolio”.

$1.5~ million will possibly keep the next CR away for an extra 3-6 mths, especially when we consider the lower spending on development etc ( in other words slower progress ), the company is undertaking.


•No voluntary Covid pay cut.

•No real AGM ( my opinion is that a 13~ minute video which had a couple minutes of music at the start and finish with the middle being dedicated to reading out the result of votes with zero shareholder interaction is not a real AGM ).

•Selling off assets which were initially held so AUZ shareholders could ‘continue to benefit’.

•Directors who can protect themselves from shareholder anger via overwhelmingly loaned or free shares.

The only flags I see are red but it does look pretty sweet for the Directors.

For me, the ‘no more easy CR’s? Ok then we just won’t talk to you retail holders anymore!’ can now add ‘ok then- let’s just start selling things!’

I still hope to be proven wrong in my concerns about AUZ. Just once. Just for a change. Ultimately though.... the little voice inside only says one word now.


Run.