It goes without saying we have a lot of catching up (SP wise) to do to catch peer lithium companies on the ASX, now there will be more pain and disparity via increased SOI.
The power of good corporate governance can NEVER be underestimated, particularly that this stage of "driving up to the bottle shop" to quote @superyacht recently, suggesting all we need to do was "pick up our bagged orders"
There is no denying, over the past 3 1/2 years, the BoD have missed by a loooooong way.
Many significant deadlines towards AVZ's end goal.... put simply, build a mine, mine and sell that product for a profit which is the penultimate win-win for al.... is it not?
Poor performance with missed deadlines causes many issues. The main legacy of repeated missed deadlines IMV, for most retail SH'ers (if they/you are being honest) is AVZ's underperforming SP.For a WORLD class deposit, AVZ is currently underperforming in the order of 50% minimum via a simple desktop peer comparison.
This despite "many" boxes being ticked, all that should have seen a "rising tide" floating AVZ's ark, yet the tide is but neap pending SEZ, FID and ML. The next big concern here is timeframes, as these KEY milestones simply cant afford to slip.
Whilst many have aired their view when AVZ management missed past significant deadlines, there is no need to put an announcement out providing an update/explanation, I hold a different view. The frustration and disappointment of having missed a deadline especially when the deadline has been maintained with conviction by Management is shall I say disheartening.....
It is, however, nothing compared to absolutely no response from the Company on key milestones, which is exactly what we are getting.
The starting point IMV is unequivocal. AVZ's Board is squarely between shareholders and management. Staying with retail SH'ers POV, we each formally own a part of AVZ with our investment, however, I do accept we don't own the business, as such don't have a right to intervene with the day-to-day operations and direction of AVZ. We do however have input through the appointment of Directors.
Past resolutions leading up AGM's have been the subject of much discussion via this thread, perhaps now some might see the importance of voting and the resultant of what I will call "group think".
It has long been tim poor governance via the setting and subsequent maintaining of clearly unobtainable timlines needs to be addressed……..
Especially in light of AVZ on the cusp of being the world’s largest hard rock lithium mine with a (insert your own valuation) billon $$$ MC……
Now with a “cap in hand” CR…. With fingers crossed isn’t anything like the last Patto’s raise……. This is just another slap in the face (the other cheek this tim) for RETAIL SH’ers.
Going forward – make your votes count people #enufffreebies
If you can’t see by now the lack of clear KPI’s with transparency and accountability for Management… then I guess keep wearing those rose coloured glasses.
To End…. And just because this is toooooooo good an opportunity to pass up…..
To ALL those that repeatedly and with venom – flamed and attacked when I mentioned a CR to “keep the lights on” will happen before the main equity “CR”.
I ……. Told you so.
