Ann: Strategic Collaboration with Mitsubishi Chemical Corporation, page-41

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Wilma85

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19/05/22

14:36

Post #: 61502693
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Originally posted by Peppie: ↑

Wilma,

This is the under-current you are not seeing. There are a very large amount of holders that have been on this register for years and years. Many bought the story at 7-10c a long time ago, to then see the company paying excellent dividends and a share price that four folded.

The largest recipient of this money was the largest holder Graham Edwards’s - AU Mining. He bought most of his at an average of about 8c and his cost price would now be zero.

But he thought he was better and shafted Mark out the door (via his board appointments) at a time when Mark Caruso was gravely ill and had to have time off work for an unspecified illness.

Why do people think he stood down from being the chair?

The man made this business from scratch and I can tell you this, they wouldn’t be having the issues they are at Tormin if he was there now.

As for the graphite, Mark bought the story years and years ago, but Graham Edwardes didn’t like it at all, not one bit and this is where the bad blood started.

So yep big tick for this announcement for the company, but it’s on the back of all the hard work the ex boss did years ago while having the biggest holder sniping you all the way.

The ultimate for the long term holders would be for someone to buy out AU Mining, send his board appointments packing and put Mark back in.

…….oh, I have to stop dreaming.

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Thanks Peppie. Nice to get some of the background to understand where these shareholders (and former shareholders) are coming from. I guess I haven't seen the value of my investment deteriorate and so have a different perspective on things.

MRC Price at posting: 11.0¢ Sentiment: None Disclosure: Held
2 Upvote

0 Great analysis

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Ann: Strategic Collaboration with Mitsubishi Chemical Corporation, page-41

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