Well said. I agree, the angst towards the company is not ideal - although probably warranted given the situation. It almost appears they are sitting back quietly hoping no one will say anything about the current situation.
Trust plays a big role in investing, when management lose trust with their shareholders, they need to work extra hard to gain it back. We need to see more effort from those we are paying to drive this company forward. Transparency is lacking imo.
The other thing is, the only way we will see any change here is RCF say so. They are the only holder with enough votes to change any resolutions. Mind you, a couple of CR's at these levels could change that pretty quick.
I'm still of the opinion we need to sell Lochinvar and start looking for a cracking acquisition. Poking a couple more holes at Lochinvar is not going to add much if any value to the project at this point- maybe change the capex but the project seems years away from anything at current progress rate and realistically, unlikely to be developed by NAE. Best to sever the tie and move on.
There's a few well respected acquisition hunters around that could be recommended to the board...
NAE Price at posting:
0.7¢ Sentiment: None Disclosure: Held
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