You are simply wrong. Iron ore assets have an in ground value irrespective of whether or not they are in production. Simandou is worth multiples of AGO and BCI combined and not one tonne of ore has been ship or is likely to be shipped for a long time.
The company entered into the option when iron ore prices where higher that's for sure and the picture has changed since then (for everyone). I as a shareholder of Rand am happy that they continue with the vision they have for this project and I don't expect them to just up stumps and walk away, as you so obviously wish for in all your wisdom. As I said before I don't care whether or not the company sits on Liberia for the next ten years. You are the only one trying to bring things down. I trust that if a deal is done in the future it will benefit me as a shareholder. If it is not done, then I trust that will have been a wise decision. You don't trust the director's judgment that is clear. What's more you are accusing them of improper behaviour. If you are that concerned take your complaint to the authorities, but you are doing nobody any good bringing these companies down in this forum.
I would simply advise, if you don't like Rand's prospects sell them and convert your holding into Tribune, although with your form I'd rather you sell both stocks and go back to whatever else you were invested in prior to coming here with your incessant whinging.
The directors of these companies have had to put up with enough knockers, arm chair critics who have never put anything on the line to build anything. People who are probably to scared to even set foot in Liberia let alone have the vision to develop a project there.
SilentO
RND Price at posting:
55.0¢ Sentiment: None Disclosure: Held
TBR Price at posting:
$3.11 Sentiment: None Disclosure: Held
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