Hi DugsabPlease take the following as some sage advice from someone who has been through the
"rinse and repeat cycle" with Bass Metals... who is down a bucket load of money... and who have recently put themselves through the "wringer" over our illustrious team's lack of fiduciary responsibilities lead by none-other than Peter Wright.
I am still learning the games at play behind the scenes and the games within the games. I now have picked up the official term for what I have been seeking knowledge on... fiduciary duty! So, thanks for that, dugsab.
The advice is that you either accept the rules of the game that the "big boys" play and try to stay ahead of the game or you move on and out.
You will find that the directors are well within ASX disclosure regulations and that "taking them to task" (even if your time and backing permitted) would be futile. So, it is pointless even thinking about it. It is what it is and time will tell as to whether their antics pays off for every retail shareholder.
By all means, retain your scepticism, vigilance and try to use your knowledge to your own advantage. You will find that there a lot more people who are cognizant to the antics than are letting on. So do yourself a favour and cash up some profit and go on a holiday. Best all around for everyone!
I recently bought a trading parcel which you could say I sold to PW for a profit. He bought shares on-market @ .9c for his Super. I opted instead to go to Bali for a couple weeks on the profit for some well-earned R&R. His antics have driven me to distraction, which led me to drive most on our forum to distraction. So for the sake of everyone's sanity, especially my own, I am going on a holiday.
"The finger of blame has turned upon itself" to quote a lyric from a Crowded House song.
Part of my ongoing lesson is my holiday reading "The Subtle Art of Not Giving a F#ck". It is a book about a counterintuitive approach to living a good life. I haven't even opened the cover yet and I am already deriving benefit. Suggest you get yourself a copy, mate... and be grateful for the fact that you have uncovered the director's antics now when the SP is where it is and not a fifth of its value a year ago as is the case with BSM for me.
I've told Towie to chill, and now it's your turn, Dugsab.... "CHILL". To anyone else interested in my crazy musings, please buy your ticket for the next instalment over at our BSM forum later this week before I head off to Bali. I am hoping that it will bring some much needed light-hearted humour to our depressing forum.Cheers - Shellbell
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