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22/11/22
07:08
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Originally posted by Koala1959
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Red I appreciate your position - I am not saying non holders have no right to their comments - it is an open forum and it is always a good thing to have pros and cons / varying opinions outlined in any assessment of something - what I was alluding to was the nature of some of the comments following the release of the trading halt in this thread hardly adding anything of value to the discussion - you as a non holder at least have articulated your position in this comment and previously as have some of the other non holders - you would be aware of the non holders I am referring to with rationale and well articulated comments in respect to their assessment of /position on AUZ. I might not agree with all the comments but I appreciate the arguments made.
I have a somewhat different approach - once I decide to exit a stock I tend to move on - I think in all the time I have been on Hotcopper I have only commented as a non holder on one stock I have sold out of and only a couple of times and I only continued to follow that stock on hot copper as a result of the interest in the domicile having represented clients years ago in the country and knowledge of some of the local political leaders in that country. I am not saying this as a criticsim of your continued commentary (you have explained why) but to outline the philosophy of where my comment originated from particularly in relation to the nature of most of the comments made prior to my post. I have reinvested at times in a company I exited and in fact keep an eye on a couple - I just don't see value for me in engaging in commentary on Hotcopper on them.
If you invest in this end of the market inevitably you will have a few "howlers" - I have had a few but fortunately over the years the howlers have only been relatively minor. It could be that AUZ might end up being one of my bigger "howlers".
As I have commented previously I do not disagree with many of the assessments you have made re AUZ - it has hardly performed well in recent years and the BOD have certainly not covered themselves in glory. AUZ is certainly at a cross road, the resource I believe is ok, the location I believe is ok, Nickel is an in demand mineral, the company has exploration potential at Sconi and some other potential projects particularly Flemington have potential. As you and others have indicated they do not have a Board that to date have shown the ability to capitalise on the project and advance it and certainly BB was unable to do so.
The new CEO so far has demonstrated to me that he is streets ahead of BB and at the end of the day a good CEO can compensate for a less than ideal Board (the reverse is certainly not the case). The continued involvement of LGE is the one thing that gives me hope that AUZ can move forward with Sconi - if they depart then I will probably exit, take the loss that eventuates, lick my wounds and look for other opportunities with what cash I salvage.
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Yes the new CEO is streets ahead…….. he gets paid more money then BB $500k a year……. CR will continue to fund the lifestyle company. Sneaky little shit of a CEO. He knows Auz is broke fist move CR. Auz has nothing!!!!!!