CXO (ASX) Banter and general comments

Originally posted by Kiwisfly9 ↑

I've got similiar thoughts too Bluegoose.

They can push the SP down but the simple matter is, we are so massively out of whack with reality with the share price where it currently is that logically some siginficant ground is going to have to be recovered in time. It just doesn't make sense for a company which already has a signficant income coming in which should theoretically continue to increase in the coming months and it has zero debt against its name.

We are at no threat of going under, so at some stage the elastic band on the share price is going to have to spring back and reflect a fair reality price and frankly if I had the money right now, I would be a greedy bugger and be buying up as much of these cheap shares as I could afford to hover up because the current price makes literally no sense and these are the moments that Warren Buffet tells us to show balls and buy when there is blood in the water and everyone else is afraid.

That said, I am still quite worried about the hell is going on in the board room right now and am seriously wondering what the F they were thinking putting those annoucements out and basing years of predictions on what Gareth publically admitted was an operation only 14 weeks deep still majorly working the kinks of production out, of which, the plant had only been steadily running for 2 weeks.

That was either an absolutely monumental cock up (and if anyone can explain maybe from a legal or operating perspective why they might have done this I'm all ears) or they have done quite deliberately and I can't blame posters who feel like there are some bad boardroom ulterior motives are going on here etc.

I'm also extremely worried about the complete lack of drilling results they seem to no longer be releasing. We used to get those when SB was at the helm, even if they were disappointing or late. We still to this date have not seen the results of the satellite scans nor heard anything about the apparent gold they keep finding on site, what's happening with Barrow Creek or what's happened with the apparently 15 rigs going at it at one point.

I understand the assay problems we were having a year ago were causing signfiicant delays but I know for a fact from commentary on other shares I hold that the major backlogs are cleared now and they are now much much better so where the hell is the continous disclosure they are supposed to be legally following???

Now we seem to have to wait massive periods of time for very little while the institutional shorters seem to know damn near everything that's going on with the site. Very concerning and I would like it if someone from CXO is reading this to actually show some courage and do something about it. We know from the intel collected by a few old hands who know people on site that things actually look quite promising on the drilling front. So why is the company you acting like we are only holding a pair of two's when we quite possibly have aces? Where is the communication here?

I still am hoping that they are doing the right thing and not setting us up for some b.s low ball offer take over so they get their crushy placements elsewhere and golden parachutes out the door or helping their institutional mates line their pockets with some coming CR so that they can cover their shorts and walk off with hundreds of millions of dollars of mum and dad investors money. God knows a lot of ordinary people have been terribly terribly burned and if Gareth and the Board have a mediocum of a functional brain or heart, this should be weighing very VERY heavily on their concious right now.

There are REAL WORLD CONSEQUENCES for regular battling mum's and dad's out there who put not only their faith but their much or all of their life savings onto them and a number of people I have spoken are looking down the barrel of financial ruin right now if things don't improve soon because they kept the faith and stayed loyal when they were told everything was hunky dory. Others who have been recently forced to cash out lost out huge amounts of money they should have walked away with since Gareth took the helm over but showed loyalty right up till the moment their hand was forced. These people are in a world of hurt, so BOD have a heart and stop treating them us so poorly and with such contempt.

That said, while I am really concerned with what's been going on, I'm still not prepared to throw Gareth under the bus quite yet but Gareth, if you've been holding out on us with some good news and just been waiting for that moment to pull that rabbit out of the hat, now is the time amigo! This is your moment to prove you're not a sellout and God knows we need it after the slaughter in share price we've seen recently.

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Agree with "most" of your comments kiwi,

But I'm all for throwing this clown under the bus.
As you suggested there has either been a monumental cock-up or a deliberately managed plan to downgrade our share value for whatever reason...., neither for the benefit of shareholders.
I believe "We" are paying top money for a dud CEO.

It is very sad that so many here have been burnt or have lost confidence in this company and had to sell, (Yellowbunny is just one)
Fortunately for me I got in around 4 cents and have added on the way and there is no way I will be selling out any time soon.
At this stage there is no choice but to wait for this clown to hopefully get his shit together for the people who employ him.

..........
NT.

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(20min delay)
Last 8.6¢		Change -0.005(5.49%)		Mkt cap ! $183.7M

Open	High	Low	Value	Volume
9.2¢	9.3¢	8.6¢	$1.051M	11.87M

Agree with "most" of your comments kiwi, But I'm all for...

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