The status quo amongst rampers on HC is to hide the truth or untruths, the negatives or downsides to a stock (whatever the case maybe) for the protection of their investment. Conceal the reality and pretend that everything is rosey... in the hope that enough unresearched and gullible get sucked in to bump up the SP.
As for a concilatory approach being exercised at the AGM... that shouldn't take precedence over asking the hard questions. I'm sure that Rob Kil, being a solicitor, can do that without being confrontational. However, the company needs to be held accountable. I hope its not a case of the AGM attendees (who were heading the move to get the directors off the board) are now changing their tune in order to upset the apple cart!
Stephen Bizzell needs to know that SH are not going to pander any longer and tolerate the following:-
1. Lack of Transparency re Costs of Operations (Prior to Production for example) 2. Lack of Accountability re Unrecovered Debt 3. Lack of Open Communication between the Co and SH 4. Lack of Continuous Full-time Performance 6. Exorbitant Expenditure on Office Rent 7. Payments Made to Major Contracts Without Appropriate Quoting and Disclosure to SH
The perception that there is a conflict of interest harms this stock's SP. The sooner SH recognise this and don't try and sweep this fact under the carpet, the better for everyone. I don't know how any SH who is being honest with themselves and this forum can be "appreciative of Stephen Bizzell's efforts and the asset he has created for LNY SHs." Unfortunately, that is how ramping works and how confirmation bias works. Rampers start to believe their own exaggerations after a while. SB treats other SH with contempt... IMO, a bit of contempt back at him is what is warranted after all the years you LTH have been hanging off this asset that still sits in the ground. In my book, its no asset at all until it sees the light of day and the money is in LNY's bank account... not in the ground in Nth Qld or in the bank accounts of contractors Bizz personally knows and has affiliations.
You are dead right, Magpies, the prima facie exists and that in itself is bad for the SP... and SH's open and honest enough to vent their intolerance to this situation are not to blame for the current sad SP... its Stephen Bizzell and how he runs this public company that is to blame. And, the directors who choose to condone it by not undertaking the fiduciary duty in protecting all SH and ensuring that the company adds value for SH are to blame for the SP. TBH, its the willingess of posters on this forum to condone this type of performance by trying to shut down those who have a right to voice their opinions, that are just of guilty of promoting this appauling behaviour. SB, PW and the rest of them are all paid to perform... and if they don't perform and SH are fed up with the status quo, they deserve to know about it. PW reads the forum and if thats one way of getting the message through to them and through to gullible prospective buyers of LNY, then so be it. I will continue to post realist and honest posts. Mum and dad investors don't deserve to get trapped in this stock and a higher SP.
AIMHO
LNY Price at posting:
0.7¢ Sentiment: None Disclosure: Held
