Yeah i know what you mean, i am in 2 minds about selling out if this remuneration report gets put into place (dont forget to vote against). What i see is a company run by a CEO who has failed previously and looking at his annual track record he has more down years in share performance return for investors then up (significantly).
What this tells me is that operationally he is not delivering or not attracting / instilling confidence to investors; now we know operationally everything is sound b that leaves us with the latter. Remember we had multiple pillars originally (acquire land, drill and develop land and sell the land for profit) and nothing eventuated from all the talk about selling the land. So right off the bat a year or two a- the selling the land is not realistic.
Now we are looking attractive for takeover but no one bothers - which means no corporation sees any value in what we have to justify at the current price (the SP has been going down for the last 3 years). My take is that not many people want to do anything with Prentice - not sure if its a reputational thing or people got burnt prior? Maybe his asking for the moon? Who knows but remember the US had a lot of consolidation in the last couple years with companies being taken over, our assets and price would have been chump change to most of them.
In addition, recently other producers were hedging right before the drop in oil price from $70 per barrel (range) this year and we didnt do anything? Just let the shareholders take the hit - his thought was probably we will drill more and let it offset..... Or more important things to do like get a line of credit...
Based on the last 5 years of holding if this guy manages to get a pay raise based on the sp performance - something is suspicious.....
He has burnt prior shareholders and that is not a good thing (red fork) then again with BRK. Remember our pool of potential investors is already low being a micro cap on the ASX = not as many as buyers.
These are just my thoughts anyway, tried to stay away from the negativity and this forum but enough is enough.
BRK Price at posting:
38.0¢ Sentiment: Hold Disclosure: Held
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