A very good response Mr Fluffy, congratulations for that. I'm happy to share my holding, a very small 91,610 at an average of $0.40c. Started following begin of 2014 and bought first parcel on 9 Jan. I've traded a little along the way.
Like most holders, I am intrigued and excited by the idea of an Australian owned satellite and admit to being a little taken in by the purported margins, once and if, Jab1 reaches capacity. I know it seems I am having a dig by asking a question of why you hold, no malice intended. I'm just genuinely curious why people hold investments and then go on to give every possible reasons not to hold them - chiefly bagging out management. At the same time, it is highly likely holders bagging management performance will have no personal experience of managing a public company particularly one working in a global arena such as NewSat. If selling short then it makes perfect sense to highlight what one believes are the pitfalls in a company.
I have no allegiance to management and I agree it's fine to question management actions to a degree. But there becomes a point where it is obsessive and at that point I fail to see how one can still believe in the company when there is a belief those holding the reigns are incompetents wasting shareholder money!
Though the recent covenant issues are not pretty, I take ExIms response as positive. We are small fry in the scheme of things I doubt it would be a big issue for ExIm to pull the rug. The fact they haven't is all the reassurance I need to keep holding. The day that changes is the day I will sell, if I could get out before the rush.
Thankfully, contracts are there, others will come on stream in the coming months and we will see the launch of our own Australian satellite 'eventually'. All other innuendo and claims about management and ex-staff is just a sideshow. If it makes folks feel better having a good old whinge so be it. If folks are genuinely concerned then just sell and buy Commonwealth Bank.
You do seem passionate Mr Fluffy, which is good. I'm not sure I can agree about correlation between deliver on strategy and current management. In the long run a mature company supersedes its management and Al Dunlap's elk will steamroller in and turn a company around if it hits the rocks. NewSat is far from mature and its current management team is crucial to it finding its feet, I feel - that is taking the company into a successful Jab1 launch and providing visibility over sustainable earnings. Phase two, well that is another thing entirely and Mr Dunlap may have his place.
Good luck Mr Fluffy, I'm sure we want the same thing.
NWT Price at posting:
28.5¢ Sentiment: Hold Disclosure: Held
