OK I have no idea what the moderators are on about so I took the bit about TJ and another couple of things out.
TJ,mbarr and Kos, I thankyou for your comments.
I think we all now understand we are on the same page and just need to convey things a little differently with a more biased approach allowing new or potentially new shareholders the opportunity to view the good, the bad, the risk and the potential. Without newbies there is only one way for the sp to tend.
Previously moderated post now changed
Wow, nothing changes….same old people, same old stuff! I found a better life outside HC, some of you guys should try it too J
Kosenar, I thought I would make a few comments however I am not going to enter into debates and arguments on this forum particularly with those who post comments that have a clear agenda to destroy the price and even possibly the company for no reason other to satisfy their own self-interest, self-importance and ego’s.
There is absolutely no doubt the company has failed to build the plant within acceptable timeframes and within budgets as previously indicated.
There is no doubt that the management and Board of Directors AT THIS POINT are well over paid. If they had performed then remuneration would not be an issue.
While this forum can be used as a tool to drive a share price up it can also be used in reverse as it has been in the case of APG
Constant negative comments of which many are uninformed and constantly being repeated is creating a herd mentality to get others to join in.
For example MBarring’s comments of keeping the doors open and writing his investmet off, and TJ1988 comment "been insolvent for a few months". We all know the corporations law in relation to insolvency and trading while insolvent. Directors personally liable! The Directors are not going to put themselves into that situation.
Some of the posters are obviously struggling reading the financial statements, understanding the reports and reporting methods yet continue to (albeit entitled to) exercise their uninformed opinion and comments further degrading the share price and management. Some have just realised that APG is a NL company and comments in relation to the PP shares whilst an important subject that needs answers and resolution are again way off the mark.
In the last few weeks and as late as yesterday our group has had a few lengthy discussions with the company, both Nick Gaston and Mike Turbott. They were somewhat interesting discussion which at times wasn't pleasant.
Instead of bitching on the sidelines we have made them fully aware that their jobs are on the line and that the AGM would be fiery. MT acknowledges lack of performance over promising/under delivering) and understands shareholders frustration.
I can understand shareholders frustrations and grievances but there are times and places to say things, do things, make a stand, sit tight or keep your lips sealed all of which require a little thought, understanding and rational thinking.
I do not sympathise with the management but i also do not sympathise with the hot heads and the ones that spit venom at any opportunity degrading the company, management, the share price and at times other posters.
That is not the way to conduct business or manage your investment and those carrying on in that manner have to take some responsibility in regards to the current share price.
There are ways and means to achieve desired results and let me assure you the tact taken by what I refer to as the hostile 5 on HC is representative of a group no better than those that were involved in the Cronulla riots.
Common sense must prevail for the benefit of the company and all shareholders and not the few who choose to benefit from putting fear into the general public.
Again, i do not sympathise with management, they deserve to be reprimanded but i reiterate there are more constructive ways to achieve a goal than to resort to bully tactics like those portrayed on this forum over the last few months.
I am in constant contact with a group of investors who make up the greater proportion of the top 40 with many in the top 20. Discussions, emails, telephone calls and the occasional lunches bring together those who have the greatest exposure to the company.
Many have departed this forum for the very reasons outlined above. Those with valuable technical knowledge and information like Humms, Tewkelberry, Seik, Tunay and others now share their knowledge using tools other than HC.
Their rational thoughts, experience and foresight are somewhat refreshing to those portrayed on this forum.
The groups issues and concerns with management and other shareholder issues have been voiced loud and clear to MT and NG on a number of occasions and resolutions have been agreed upon.
They clearly understand what our group wants and what is expected from here. Our concerns have been discussed in detail and I am confident of the issues being dealt with in the manner we expect.
It is very clear that management want APG to succeed and without doubt will be doing everything in their power to ensure the success of the company.
Shareholders are entitled to vote any way they desire however those words of logic and common sense must come into play. Irrespective as to how others vote the fact of the matter is that between our shareholders group, Management, Kronos, BHP & Orient the first strike was never going to get up.
Whilst I do understand and participate in your frustrations your call for a first strike was without doubt a poor decision that could have cost shareholders everything.
A first strike being recorded against the company at this stage could put the pending transaction in jeopardy. It tells the whole world that there is huge shareholder unrest and of poor management performance. Would you invest $6 - $10m into a company when you know there is huge shareholder unrest and with that could allow another group to come in or remove a key person that is very integral to the business and the technology?
Whilst we have issues with management our group ensured your movement failed for the good of ALL shareholders’.
You don’t think a 30% pay cut has come off the back of TJ and HC do you ? I hope you are not that naive.
Without doubt those who voted against the resolutions will serve a purpose to reinforce what our group has been saying to the company. We will monitor the company and keep the pressure on as they have been given a free hand too long. More changes will occur….stay tuned!
I am sure this post will attract much criticism as the less educated, emotional posters lead without thought.
The above are my thoughts, views and opinions please DYOR.
Good luck to all.
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