Cacoethes thanks for taking the time to reply to my post. I too was optimistic about the "new" Marion under Colllery and hope history is not about to repeat itself.
I have spoken to Collery on a few occasions, the last time about 6 weeks ago. He told me all was going to plan. The trouble is, the plan called for significant production by the end of March and 5 mill cu ft by June's end. It is not unusual for companies to miss targets. To miss a target & not give reasons or updates is reminiscent of the "old" Marion. It wasn't that long ago we were getting 2 updates a week, now nothing.
I put my original post up because smaller shareholders like myself have had little news in recent months. Larger holders like yourself & dicktangles are buying. Many like myself wonder why? In my experience, larger holders tend to be wealthy, and wealthy investors are usually very astute with their investments. On the surface the health of the company doesn't look any different to 18 months ago. What is it that gives you the confidence to be buying? Why 90% chance of success now but only 10% 18 months ago? The bank balance looks the same to me.
I would dearly love to be buying & averaging down my holding cost, but can see little evidence the company is turning around. I'm a positive person by nature & somehow think it will all turn out ok.
MAE Price at posting:
1.4¢ Sentiment: None Disclosure: Held
