I have been following the development of Aurelia since the YTC days and have been invested intermittently (I still hold a small position after having sold most of it some time ago at an SP of 40-45). Haven't been here for a while.
Now I see the remuneration for the management and I am a bit shocked - to put it that way. What is being paid out here would also suit a company with a market capitalisation 10 times larger. The management's track record is shamefully weak, and that's even a compliment.
Dargues was such a bad decision that I don't understand how the management can still hold on. At least 200m just invested in a hole that hardly makes any difference. This 200m could have been invested much better and the market capitalisation would not only be 200m higher today, but probably much more. Federation, Great Cobar - whatever. Everything would have been better than Dargues. Unbelievable.
Okay - the journey continues and I will follow what happens next. Personally, though, I think the market is disappointed with this management and even if all the circumstances are right, the SP will have a tough recovery - to really get going, something has to happen around the top as well.
The fish always starts to stink at the head. It's time to change things here and get things moving again.
AMI Price at posting:
26.5¢ Sentiment: Hold Disclosure: Held
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