ATA 0.00% 82.0¢ atturra limited

Another Chapter Begins

  1. 160 Posts.
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    ATA/HAZ
    Approval for sale of 35% of Joint Venture interest passed unanimously.
    Now we at 25%!!!!

    Another capital raising?
    Sorry guys..... not this time, I've burnt too much cash.

    I chuckled at section 1.7 of the Notice of General Meeting.
    They couldn't do that properly when they had a 60% shareholding.

    Was reading Company Presentation dated March '14.
    They asked the question 'Why Invest In Hazelwood?'
    Why, indeed?!
    So called profits were going to buy out 40% stakeholder.

    I also read the 'Change Management Plan' dated October '14.
    They were going to accelerate study of upstream Tungsten projects-
    Big Hill & Mt Mulgine.
    Both of those assets went down stream pretty quickly to pay off debt.

    It's been a tale of woe since the Vietnamese FeW facility was commissioned.
    Not much benefit for the local community since it's construction.

    The most poignant thing I can say about ATA/HAZ is that they've
    never failed to disappoint.

    A case study of over promising & under delivering.

    Cheers,
    Ultraman
 
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