I am not worried about Kuro. Never did. But the company (and this forum) seemed to worry about it earlier this year.
What I look for is an insight into how effective and credible management are. They spent a lot of trees telling us that they were spinning off Kuro and it would happen in Q2. Well it hasn't happened and there has been no explanation by way of company release. Further there is no mention in 32 page Qtrly.
From a personal point of view, I have been torched by backing management teams that have stumbled on good assets and through Management incompetence and a failure of a Board to keep Management accountable have wasted development budgets and delayed development of otherwise good projects.
If they can cut down a forrest telling me how good they are building Kuro and attempting to cut it free, then also tell me the float has been delayed, why its been delayed and what they are doing to make sure other forecasts will be met. To me, this is important if they want me to beleive what they plan to to do when it really matters. Don't just give me pages on what is going well.I hope in future they will tell me when capes has over run or when marketing arrangements are delayed etc etc
While I am at it, for the record I don't think much of commercial (non government) entities reporting NPV figures at zero discount rates or pre tax NPVS and IRRs . I am not sure what these numbers mean. Who do they expect will value the company on a pre tax basis or without discounting future risky cash flows?
Will keep watching and hope that Management show a bit more balance.
Good luck to all and in particular the company in getting Groundhog closer to production.
The Pick
ATU Price at posting:
$1.51 Sentiment: Hold Disclosure: Held
(20min delay)