Monsieur Wilson, I'm genuinely sorry you've had to sell at such a low price. Management has a lot to answer for, but I personally wouldn't have sold, even though further dilution looks on the cards. Truthfully, if I had met yourself and perhaps a number of other investors and knew you on a more personal - professional level maybe some sort of arrangement could have been achieved. Considering the current SP, it would be possible for me to combine with 6 others in equal partnership to take on a holding the same as IDG. This would be around only $7 Mil in total to own over 10% of LNG. I would propose removing management and the BOD, put the projects under care and maintenance and allow IDG to assume a management role once the trade war was resolved.
Now I don't know if this could be achieved, it's not my area of expertise (as you know my area of expertise is sourcing gold tops and blue moonies from local paddocks and brewing up a certain concoction that produces a more pleasant affect than your average coffee).
The SP is abominable considering what you, I and many others have paid (including up to the high $3
mark in my case) yet buying at this price is a different matter. I would hate to steer you wrong, but personally I'd think about buying my shares back at this price if I just sold them. As you know, I still hold shares in LNG, though I have sold down my holdings several times as I lost trust in this management.
What I continue to say is they should be held accountable and the only way is for share holders to join forces in a vote, as they did on the last remunerations package that saw two directors get the boot. GV's in charge and he and his mates should be next. I started posting here a few years ago, talking about the speculation and lack of transparency by management and hoping that share holders would unite and hold this team accountable, but you know where that led, to any 'Cupboard' sympathises being abused by the now 'in hiding' rampers. Watch them come out if LNG manages to raise liquidity, and watch them not mentioning anything about a SP languishing below $0.20 and their talking about a SP anywhere from $1.00 to $5.00. If LNG ever actually re-domiciles they'll get their $5.00 SP, but it will be at 1 share for ever 30 to 50 they currently own. I think a lot of them have sold down along the way, but didn't disclose it here on HC.
So little integrity, so little transparency, so little accountability!!!!
LNG Price at posting:
15.5¢ Sentiment: None Disclosure: Held
