Don't hold your breath. This company hasn't realised that it's...

Don't hold your breath. This company hasn't realised that it's better to say things like "by December", which would allow some wiggle room. It's an extension of their standard business practice to over-promise and under-deliver.

That's not to say they haven't delivered on many things they've set out to achieve (the Minyari MRE increase is an example). It's just that they've always overhyped the worth of whatever is being hoped for or announced. That sets up expectations which investors are justified to think will have a positive impact on the share price. Then people feel disappointed when it isn't delivered. This is bad business practice generally. It's better to keep expectations low, then pleasantly surprise people, than do the opposite.

In this field, I blame Power. His interviews and presentations make some people excited with his sugar hit of optimism. But that's soon dashed when reality dawns. And so the price marches downwards.

I spoke with Mark Rodda at length just after the CR. Nothing in what he said suggested that the next year will be any better than the last. I expected that. He can't say anything that isn't in the public domain and if there was anything worthy of excitement, it would already be out there. Hence we're left with blind optimism, which is now grating and way past its use-by date. Maybe that's why we don't see Power giving his * interviews any more, going on about how AZY "has got a tiger by the tail", or "is on to something big", or "is sitting on the best land that everyone wants". Uh… right. As with the little boy who cried wolf, people just don't buy it any more (other than some on this forum who have drunk the Kool Aid).

I had several questions, but mostly I listened. The answers were mostly motherhood statements, the sort you hear business leaders and politicians use that start with weasel words like “We are committed to…” For example, I asked if it was fair to say that doing a CR now rather than waiting for the share price to rise on the back of results expected before the end of the year, sends a signal that the board don't expect much from those results, and think the share price will be even lower in a few weeks. Indeed, that's what happened.

I expect the price to go lower as the cash runs down and the next CR looms (my guess is by July). I had thought about putting my remaining shares in the bottom drawer and waiting until they go up (hopefully over 5c, the price I bought them at). But that's unrealistic, and I've now decided to dump them at the end of June, use the loss to offset profits, and get this stock off my books. I don’t like realising a loss, but at least there's a silver lining with the tax benefit. Being rid of this stock will also be nice.