ASM Management could IMO have been releasing more details to the ASX so that us shareholders could form a better judgement on our investment so we would not be sitting here today wondering what has just happened. Bit of a recap between a select date period as things look clearer in hindsight, I have a question at the end -
25 June 2021 - ASM boosts Leadership team ahead of key decisions. Rowena Smith joins the team. Note - Vision 2025 in full swing.
21 July 2021 - Framework Arrangement for 20% stake in Dubbo Project and Offtake - Happy Days 'Gandel Congratulating all Non-Execs - David Woodall the poster boy'
---whoops things seem to go a bit quiet, no more back slapping -----
6th October 2021 - Finance Update - Framework Agreement still in play, what a relief cause us retailers were waiting on that news... you beauty appointment of ANZ, because you know they need to explore other finance options in addition to the framework agreement and EFA because we a rocketing towards a Vision of 2025. Lets go baby.
---Not much happening *** cue tumble weeds and crickets chirping *** retailers remember we were all keeping HC alive at this point. Someone feel free to see what the share price was doing during this time ---
24th November 2021 - BOOM we get an announcement on commencement of hot commissioning. The announcement looks a bit sad and David looks like he is a little bit alone. I wonder if we would have got that announcement if the Deputy PM of SK did not turn up. What is going on people.
30th November 2021 - AGM is on. YES. I did not attend tho. I see by some choice words that this is David Woodall's the Managing Directors AGM Presentation. Nobody else's Presentation it would seem. Back slapping is over!! starting to feel a little awkward. At least in the 'Managing Director's AGM Presentation - the Vision 2025 is still alive'
7th December 2021 - Dubbo Optimisation released and share price does a pooper. Opportunistic selling anyone.
17th December 2021 - Joint statement of cooperation between ASM and KOMIR. Nice. Hang on. fast forward to today, where are these stockpiles of raw materials.
10th January 2022 - Kerry Gleeson is appointed. Because we needed another Non-Exec. right now, because things are going that good that it was very very important. By the way she is a top lawyer by coincidence so that alone is worth her wage I guess.
7th February 2022 - Nice one.. Rowena Smith gets 54,714 Rights. No exercise price and issued under the employee incentive scheme so no need to quote on the ASX. So complicated. I reckon she sold them immediately. I have no idea, its just that Ian Gandel used the word 'immediately' in referring to David Woodall's resignation and I wanted to use it somewhere else just as appropriate and confusing.
---- Anyone else get the feeling Management if they looked closely could have seen or had some knowledge of something that was happening behind the scenes that could have been communicated a little better to the market
---- Shout out to the ASX---
2nd March 2022 - Ian Chalmers Resigns - Legend. Look what they are doing Ian. Crazy.
26th April 2022 - Investor Presentation - Looks some slight changes peeps - Vision 2025 gone, changed to Our Vision (how inclusive) - global metal plants now under consideration - hey and what is this a whole PAGE dedicated to ESG: Responsible Stewardship. Cue Terminator Rise Against the Machine Music as Rowena emerges from the dust.
----Do you think an announcement at this stage, is anything happening that the market should know about, like do we have a lame duck MD, or a proxy CEO at this stage influencing change within the business, reviewing presentations etc, if so why? what has happened? anything? It is clear things have definitely gone quiet, a bit of distancing happening from the exec team, overall ASM feels like it is under the grips of a crisis management expert.
12 May 2022 - Metals Plant Opens - YES - Hey look there is Rowena. She is everywhere I bet she is smiling behind that mask, where is Ian Gandel tho--------
-----Anything at this point that could have been communicated, like a proxy CEO, who has control and can and will be making significant changes to the business in the future that maybe the market should be aware of about now---- What is the share price doing at this point I wonder.
16th May 2022 - Framework Agreement Revised - This announcement IMO is a smoke screen, it is just designed to be confusing. Maybe Gleeson that new Exec could have put some maps and stuff in with it to help us out ---
18th July 2022 - David Woodall Resigns, plenty of time after the opening of the KMP but strong wording from the Chairman, he is leaving immediately - by the way don't you feel 'immediately' yes a random choice for a word for a resignation letter, actually quite confusing choice of words, especially when it could be interpreted that he had been a lame duck since November 2021. Look!! Rowena is awarded the role of CEO, no consultation committee review details in awarding the position, no acting CEO consideration whilst ASM tap the market in the best interests of shareholders in an effort to recruit the most diverse, adaptable, suitable young gun out there that could drive value and not shelve the project like Rowena as CEO has done, Maybe she would have been the best appointment but she could have applied for the position and matched up against other applicants. Anyway it says in this announcement that she led the construction and commissioning of the KMP. Okay, there you go, she did everything and is a guru and that is why she got the job. Shame she couldn't have used all those smarts to inform the market on her big future plans and what has been going on in ASM over the past 7 months.
31 October 2022 - Corporate Presentation on the back of a Capital Raising - Significant shift in business strategy identified in the presentation. Why? What was wrong with the November 2021 version, or the toned down April 2022 version with the big slide on ESG included in the back.
Here is my question, I have a lot of questions and I am no Maurice Blackburn, but my main question is this-
From the period of November 2021 to 18th July 2022, is the Company aware of any information that upon close reflection should have been released to the market as it may have been deemed material news that may have contributed to the decline in the value of it's securities or could have potentially influenced an investor to offload their securities should they have chosen to do so?
Keep pumping the Company people, I do not want to see the SP destruct !! At the same time, if the Company had looked closely and made some more announcements could some of us retailers left holding the bag made an informed decision to offload?
GLTA
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Mkt cap ! $115.3M |
Open | High | Low | Value | Volume |
59.0¢ | 59.0¢ | 57.0¢ | $382.3K | 660.0K |
Buyers (Bids)
No. | Vol. | Price($) |
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7 | 54800 | 57.0¢ |
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Price($) | Vol. | No. |
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57.5¢ | 32829 | 3 |
View Market Depth
No. | Vol. | Price($) |
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7 | 54800 | 0.570 |
3 | 16001 | 0.565 |
10 | 69615 | 0.560 |
7 | 31542 | 0.555 |
14 | 155250 | 0.550 |
Price($) | Vol. | No. |
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0.575 | 32829 | 3 |
0.580 | 74927 | 2 |
0.585 | 25000 | 1 |
0.590 | 58527 | 4 |
0.595 | 25000 | 1 |
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