I agree with your points, unfortunately very few shareholders question management.
Very few shareholders raise questions directly with management, and those few shareholders who do ask questions are very polite & pleasant and do NOT ask the hard questions or suggest alternate ideas.
The fact is over the last 12 months I've started to become very unpopular with management as they don't like shareholders questioning their "missteps "
"Theres been a lot of money spent on conversions at Sarawak and from the last webinar presentation it seems obvious that the conversion of Ferro silicon furnaces to manganese alloys was the wrong step. Capital spent, downtime in conversion and now earning less money/furnace.
These problems are weighing on the OMH shareprice, investors are now becoming wary of management decisions and wondering when the next management misstep will occur.
Sometimes a company needs to look back and examine previous problems and bad decisions. Over the last few years these decisions have resulted in a depressed share price, from the Bootu creek UFP, furnace conversions, Si met underperformance, capital tied up in China with no decision for OMQ in the future."
Obviously nobody likes being criticized, but sometimes it takes us shareholders to point out the reasons why investors are losing confidence.
I'm also disgusted that OMH management who have decided to no longer have the regular webinar with corporatestorytime after quarterly reports or financial reports.
I was told this directly from Nicola who organises the presentations.
"Just to let you know that we are no longer handling the investor relations function for OM Holdings"
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4 | 25070 | 0.360 |
2 | 15000 | 0.355 |
1 | 5780 | 0.350 |
Price($) | Vol. | No. |
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0.380 | 14750 | 1 |
0.385 | 5168 | 1 |
0.415 | 4350 | 1 |
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