Excellent commentary pe981, I totally agree with everything you...

First 8 Last

Share
Profile

Follow
Supercat

388 Posts.

1155

01/07/23

10:27

Post #: 68566129
Share

Originally posted by pe981: ↑

Yes PS agree that a new broom would prefer a new start.
In fact investing at this end of the market you see it quite a lot.
Some companies change their name quite regularly to rinse off deeds of the past (I have a couple which I don't bother about much and have trouble remembering some of their previous names when I try and revisit their histories....)
It is also fair that minority holders that have been through plenty with Flinders are sick of the games and I think a far better strategy would be to release some more concrete info on a path forward to mining and as part of that a proposal to change the name at next AGM, which would appear a reasonable time frame to tie it all in with some real evidence of moving forward.
Doing it as some sort of matter of urgency (calling an EGM) doesn't save them much in the way of process and just plants further seeds of doubt about what our directors are actually doing. Name change is administrative grist for the mill.........
Some people like blue sky thinking, brainstorming name changes and feel good meetings etc, I don't, just go mining!
Anyway, not worth wasting time on, I am not even going to bother with the effort of voting, Red Hawk it is whether I care or not..........

Expand

Excellent commentary pe981, I totally agree with everything you say, it could have been handled much much better as an aside to an update of the mining scenario etc.

As a Flinders Diamonds IPO investor I remember the way the management at the time expertly handled the transition from FDL to Flinders Mines by selling the dream to all shareholders, which by the way everyone bought into as we could easily see the way forward having been included in the conversation from the outset, unlike our more recent experiences from the BOD.

The recent performance of the BOD unfortunately has engendered a deep seated mistrust which will take some careful and inclusive management to more readily bring us back into the fold. By recent performance I am referring to the attempted delisting etc, etc which was condoned by the previous Chair.

Surely an update webinar prior to the EGM would be the most cost effective way to bring all shareholders up to speed with the future direction of the company and explain the relevance of the name change to all so there is no chance of over thinking the situation by minority shareholders and heading off on a completely wrong tangent.

Looking forward to positive information sooner rather than later.

FMS Price at posting: 45.0¢ Sentiment: Buy Disclosure: Held
13 Upvote

3 Great analysis

Reply