ara79, albidon action are trying our best whilst keeping it...

ara79, albidon action are trying our best whilst keeping it low-key on the public side so as not to rock the boat with any new investor. You can also find the action group on facebook:

albidon action on facebook

The company totally refuses to engage with their own shareholders, yet who are they accountable to? There is zero transparency in their actions, & they completely ignore ASX regulations & best practices. We do not believe their constant negative revisions to their own production data, in fact they lie all the time. How long did it take before they finally admitted that the sole customer Jinchuan had been directly running the Munali mine - & so WHO is responsible for all the losses? How much truth was there in their announcement to ASX of May 31 2011 regarding the Convertible Notes? And what of the ASX announcement of October 3 2011 that Patersons had been engaged to find new investors - we heard from Patersons' own board that they had been asked to do precisely nothing...

Albidon has been run as a puppet by Jinchuan & thus the Chinese state, with not a single thought given to the share price. Our chairman Sanlin Zhang is the man who pulls all the Albidon strings, yet he is of course a Vice President of Jinchuan: nothing gets done without his say-so. Yet is not the chairman of an ASX company supposed to be an independent? (Indeed 3 of the 4 on our board are from Jinchuan, with the 4th being Harry - see below)

And what of Riverstone, the company conducting the 'independent' review & subsequent hunt for this new investor (once Patersons was revealed to be a sham of course)? Well the founding partner in Riverstone is none other than our own MD Harry Wang: not only that but Harry is a childhood friend of Sanlin Zhang, & the major long-term client of Riverstone just happens to be Jinchuan. Now that is a new definition of independent...at least Harry & Riverstone are earning nicely out of these never-ending discussions with the alleged cornerstone investor, to the tune of $365,000 from Albidon coffers in the last quarter alone.

We asked for detail on the figures contained in that latest quarterly, justifiably we want to know where all our money is being squandered by the buffoons in control. Our request was routed via the audit partner at Ernst & Young: yet as they do with everything Albidon simply ignored it.

So what are they actually DOING now they are conveniently blaming the markets again? And how much money are they wasting on the spin doctor Ala Jury hired in from FTI for them to all hide behind?