ORS (ASX) Ann: Proposal to Privatise Company

Originally posted by sisyphus ↑

Hi raw - good to see a familiar name and to know that you have watched, and experienced, the AGS/ORS asset and money trail. Congratulations on being able to turn your AGS loss into a gain. ..

Unfortunately I'm not the "crafty sisyphus" you refer to. I relate only to sisyphus's punishment: being destined to push the rock from the bottom to the top, only to plummet down again and to repeat the punishment ad infinitum.. I have only ever been guilty of naivety, not "craftiness" .. I thought I was investing in valuable assets (producing mines no less) but I misjudged human nature. Whereas I had idealistically believed that directors (and JV partners) would have high professional standards, and act always and primarily for their JV partner and/or shareholders, I now see company directors and big business in an altogether different, self-serving light.

In this last ann I see that the ORS AGM is too take place at their Melbourne Lawyers venue on the 26th - a day before AGS's AGM in the same place, and a week or more before the GMs for the proposed privatisation of ORS. No doubt another strategy has been conceived by their advisors (PPB Advisory) if the 3 resolutions are lost (not likely, I'd say).

So, what with Ebworth Lawyers and PPB advisory (PPB did the AGS "fair and reasonable report" too after numerous other much higher valuations), we have to accept that shareholders have no control and that we are at the mercy of the major player.

Good luck all hapless, impotent holders. At least we're not like one AGS holder I remember who took part in the 2010 25c IPO and, allegedly, lost his house. For newcomers, who have bought in at the same low price as the directors, you should be fairly confident that you won't lose; or not too much . (PS My own losses will only be re-couped if AYC does well - and doesn't get privatised too !)

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Oh bloody hell sisyphus you should have stuck with my Wikipedia description of the tag as your rationale for choosing it, although showing admirable modesty and humour, is surely a tad pessimistic for one investing at this end of the market!
As for the AGS saga ... a lot of good people have-been/were hurt badly I know ... I've always approached small stocks with great cynicism and yet still manage to get shafted too regularly for my own good!
Thanks for the heads-up wrt the meeting dates and venues, I intend to be at the ORS AGM for sure as that'll be the only chance to grill management re the privatisation before the GM's on the 9th. Dec.
As for AYC I gotta' say that the silence has been deafening ... I'm on the edge of my seat waiting for the Quarterly (due by Friday?) and the buy side is drying-up rapidly ... never a good sign.