Hi Bitzer, Scanno etcFurther to me saying I would reply further...

Hi Bitzer, Scanno etc

Further to me saying I would reply further - here it is in brief as we have all heard this stuff before.

or how about repeated failure to meet self imposed deadlines - DEADLINES ARE CREATED ON GOOD FAITH WITH THE KNOWLEDGE AT THE TIME. BECAUSE THEY HAVE DEALT WITH GOVT AND AN INCOMPETENT POWER STATION THOSE DEADLINES GET BREACHED - TOO LONG HERE - YES - BUT WHAT DO YOU DO.

or a complete failure to effectively communicate with shareholders I TEND TO AGREE HERE IN THAT WE HAVEN;T BEEN GIVEN THE FULL STORY AND IF WE HAD THEN PEOPLE WOULDN;T BE SO SCORNEFUL.

Need i direct you to various announcements in H12012 which stated that completion of Carnarvon was imminent ? AS ABOVE. THERE HAS BEEN SEVERAL GOVT RELATED HOLD UPS HERE AS WELL POWER STATION ISSUES. GOVT RED TAPE IS TEDIOUS WE ALL KNOW THAT

Complete failure to execute ONLY BECAUSE WE ARE BEHIND, SO FAILURE TO EXECUTE IN A TIMELY MANNER BUT NOT NECASSARILY FAILURE TO EXECUTE.

Complete failure to manage shareholder expectations THEY ARE NOT THERE TO MANAGE OUR EXPECTATIONS. THEY ARE THERE TO MANAGE A COMPANY AND BASED ON THAT WE CREATE EXPECTATIONS. WE JUDGE THEM ON THAT ABILITY.

Inability to foresee companies financial requirements DON;T AGREE - THATS WHY THEY KEEP RAISING SMALL AMOUNTS. THE FAILURE TO GET IT IN TIMELY HAS HURT THEM GETTING BANKING FINANCE. THE SOONER THATS DONE THE BETTER FOR ALL

All the above are irrefutable

Take a read of the threads and digest the complete dissapointment and lack of faith in management. Its REAL.
YES IT IS AND AM WITH YOU

I dont think anyone here is over reacting when they call for heads to roll, somebody has to be responsible
FOR ME THE BIGGEST ISSUE IS THAT THE SHAREHOLDERS HAVEN;T BEEN TOLD THE FULL STORY AND WOULD BE THE ONLY THING THAT I WOULD QUESTION. I HAVE DONE A FAIR BIT OF DIGGING TO KNOW TO WHAT I KNOW AND YES ALOT OF IT HASN'T BEEN ANNOUNCED AND FOR THAT I AM NOT SURE WHY.

I am hopeful that successful completion at Carnarvon and some new contracts will get some stability back in and hopefully we can all laugh about it later. If problems persist then I may join that chorus for heads to roll. For now though I am not in, but happy to see where it goes over the next few months and make my mind up then.