EGO What Will Change!

What an interesting week! Interesting article! It's fantastic that holders seem now to be focused and finally supporting common ground on this forum, about time. It is important we stick together as we are all holders who want to make a profit, especially as most of our board don't hold shares and are not communicating to us, that is a concern for me.

However looking back and seeing where we are right now still disappoints and concerns me. What a missed opportunity if the actually did things better, our SP position would be a lot higher anyway we are where we are, looking better than last week, last month and over the last 3 years that's for sure.

Firstly the ASX waiver is wrong, why would they do this, they don't need to do this, they have the numbers I would assume easily. Is our board really working for the best interests of holders? If what is recently said in the paper Re - Origin and given the 35-40% holding of MIN and Garret etc, wouldn't it have been just normal process to let holders VOTE who have supported and paid to keep this board enjoying their life style?? Very strange and concerning they want a waiver.

So is it because they are really worried about holders lol, or is there going by something in this deal holders will not like! If they are successful in the waiver we won't know details until after financials, probably Sept. This is unacceptable imo and totally unprofessional, who is really working for who and do they really have holders best interests at heart! Something isn't right with this. It's a real shame they do not like or trust us. This whole situation can go against what is best for holders, please think about this. Hopefully they are really working for the best of us. I would be more comfortable if they had significant shares like Garrett, BUT they DON'T, I do not trust they are smart enough to make the best decisions especially following the last 3 years of performance.

I will go into the details from paper in a separate post later, so you can see some of my concerns in detail from where I see it, if any of you want to know. Plenty of Pro's and Con's, which will and can effect our investment.

Going back over the past couple of years we can totally understand the many failures which have effected our SP. The poor Black Swan survey communication, very brief, only stated 2 high prospects, what about the others. Interesting to me why they didn't say a lot and WHY! What's the true picture here! Why have they with held this in detail.

I still maintain we certainly do not have the right team in place, look at all the time and money wasted. Missed so many opportunities imo. If they would have continued to be proactive, communicated well and taken advantages over the past year or so. Even could have positioned themselves better financially but doing the well right in the first place, took over NWE, done more with Alcoa before they spent $100M into TSV, we could have even T/O them, repaid and structured debt earlier. We would have been sitting at a SP of over 60-70c, before doing deal with MIN etc. ERM could have got more, we could have got more and importantly we would be going places and strengthening a stronger position in Perth Basin. Before this major article in paper, missed opportunity reflected by their performance.

BUT NO we have failed and gone so silent. This company was heavily PROACTIVE in early days and now this team are totally REACTIVE managers. Demonstrates are change is needed before we embark on all these complex negotiations, well that's how I see it. We have given away basically 25% for nothing. Why are we in this position. Some boards changes are essential even more than ever.

Now we are into very interesting times can we seriously trust that we have the right calibre of people to successfully win this recent Origin deal, if it is true mmm! Why hasn't the board said anything! One well, one failure, SP still below consolidation after 3 years. This really worries me going forward. I can only go off our track record which to be honest is pathetic at best.

Another point is what MIN knew re Origin etc. Anyway enough of this post for now. Sorry so long but dealing with serious family health matters. Just sent son to Singapore lot's going on re private matters. Some probably like that I haven't been posting, hopefully a clearer picture will be told and all of us can once again be united. I will comment re the positives and negatives to be aware of on the exciting next chapter Re Origin later, all the best GLTA.