Bluebottle18, just had a look at your comments in the New Year. Yes it is amazing that directors/people in general do not change even when others are suggesting a different approach and conditions warrant a change. I appreciate that you and others clearly tried to influence TKG management to take an approach that may have benefited all shareholders including the directors.
I believe there is still hope for some recovery with an MNC recovery. However, the directors clearly have some work to do and their understanding of what is required seems to differ from what they actually do - which is what you are indicating. My theory is that people who struggle to act are often fearful of being critised for making the wrong decision and are more comfortable in wearing the critism for doing little even if it results in a worse situation down the track. They justify there stance with excuses that will always exist over time, eg blame it on MNC management for raising capital at a low share price, GFC, etc. Overall, very disappointing and shows why quality management is so important when investing.
PS. Interesting to see that TKG management sold MNC shares in the 20 to 30 cent range when they were forced to raise money themselves but were not clever enough to forsee that need when the MNC shares were much higher. I guess that proves your point bluebottle18!
TKG Price at posting:
4.7¢ Sentiment: LT Buy Disclosure: Held
