Hi all, This is my first post but i had invested in BEZ for nearly 2 years. I first sold all my holding when Quantum scandal first appeared to HP and share price tumbled a great deal with the loss of more than 100K. Then I repurchased after BEZ's explanation to ASX queries and the following announcement of CBA bank account opened and the imminent deposit scheduled by middle of June. No reasonable person would expect that after the ASX queries regarding the misleading, BEZ will continue to mislead the investors, right? But it did happened. Today I reduced the list and sold my all position with another losses of 16K.
IMO BEZ now is uninvestable because they have the board that cannot be trusted at all. IF the board was not certain that Quantum will have money to fulfill the obligation announced, why issue the ASX announcement. And this is right after ASX queries regarding this issues.
I will write the letter to the ASX tonight or tomorrow to ask for the investigation and ask for the board responsibility as this is not the first time that the misleading occurs. And encourage everyone who are suffered from this to do the same so the board will have to bear responsibility.
If we are reading back all the announcement at least 1 year backward, we can see that the announcement regarding activities on the mine site reduce a great deal especially after the board change to Quantum team. There are rarely drilling announced on 2024, the pending 1 drill hole result is still pending until now. Furthermore from December annoucement the second big batch of sample that was sent for testing that the announcement said will provide the result to us investors soon, still nothing.
I was originally from South East Asean, and from my experience the bad management cannot change themselves to be good ones and if they show sign of untrustable, have to be very careful as nearly 100% something bad will happen.
It is beyond understanding why Quantum spent a lot of money to acquire 30% shares and 25M USD for pre-purchase gold but run the company like this. because if dato put the right person to run the management and right person on the mine site (to develop the mine), even he stoped paying right he did now, I still think the share price should not be at this level.
Imagine if we already have a few good results of drilling, a clear progress on mine development, a picture of Site preparation for PP installment, an understated announcements but over delivery regarding the drilling and mine development. What the share price would be now.
IMO Quantum should find other Experienced and Successful Gold miner to take over their shares and BEZ should do capital raising to Fund the Mine development. Kenny if you read this, I tell you from my experience working as investment banker, please find the deal. this is best for everyone: Dato, shareholders and other stake holders.
In meantime, i encourage everyone to write the formal request letter to ASX to investigate this repeated misleading.
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