Yes, all valid points and I agree with everything you say. What irks me about this registry issue is that management generally do what they say they will do, but on this matter it is just swept under the rug. Just do it for goodness sake, put the issue to bed, it would take but a stroke of a pen. If it doesn't work, well at least it is done and we can focus on other issues. Or is that precisely the point for no action on this?
For context, as I"m sure you know, we crossed $0.03 per share in July 2019 on our way to $0.054 in August 2019.
Since then what has happened:
- We have been dilluted a little
- Became relatively debt-free, and remain as such
- We commissioned the plant
- Acquired several tenements and have a decent life of mine
- Produced over 115,000oz of gold, and sold that gold for over $250m AUD
- Hold a tidy amount of cash in reserve
- Received dividends of $0.0115 per share
And here we sit, eeking out an existence at $0.029 per share, down almost 50% from those highs, having receved $0.002 per share in dividends for the last 24 months, whilst gold sits at huge all-time highs. News of highly prospective tenements being awarded, news which has been telegraphed for years now, is met with market action barely above the 50 day trading average - most of which is likely the protracted accumulation by a top 20 holder.
Is management doing
everything in their power to achieve growth? The answer is clearly no. There is an elephant in this room and the market continues to acknowledge it.
