It's nice to reread some of the previous annual reports to see...

It's nice to reread some of the previous annual reports to see what we were being told about the PIOP.

Chairmans Address at the 2016 Annual General Meeting Dated 30 November 2016

• The Board at it's November meeting fully supported the focus on PIOP as this is the premier asset of the company which deserves the company's full efforts.

• It's fair to say that the company is now positioned to re-invigorate it's ambition to monetise the PIOP asset - depending on the outcome of the review.

• With the adequate capitalisation of the company for the immediate future your board will now proceed to add value to the PIOP assets in an environment where the iron ore price is staging a cautious recovery

Fast forward to 2019

• Boards only focus was downplay PIOP and do nothing other than to delist. Some horse sheet about not being able to get funding yet there was funding for a $30M loan that Flinders could not repay. That's from the supposedly competent board that has a premier asset of +1Bt of iron ore.
• What monetisation has occurred? Nothing. No agreement of any sort from a do nothing board of muppets.
• The board has added no value other than to depress the share price. The only value added has been the price of iron ore recovering and the muppets are still trying to feed us the same horse sheet that PIOP is a worthless patch of dirt that now has less value than when the iron ore price was $60US

Serious questions have to be asked by ASIC how these muppets are still able to keep their Todd jobs if the Todd investment has gone backwards with the delist proposal. Yet Todd who claim "The family owned Todd Corporation is one of New Zealand’s largest and most successful companies." really 2016 to 2019 can't progress a +1Bt iron ore mine while the price of the commodity sky rockets to highs not seen?? What KPI's are these muppets meeting that still keeps them employed?

Here is some irony

"Through enterprise, professionalism and by caring for its employees, the community and the environment, the Todd Corporation continues to grow and prosper."

Enterprise - Yep exhibit A - PIOP can't get it off the ground and can't steal it from the minority shareholders. Some real enterprise there for all to see.
Professionalism - Yep muppets tried to to coerce shareholders with the delist to sell their shares. Was also on full display during the EGM. Who can forget about the whinge fest of the qtly report from this professional bunch of muppets. Professional must mean something else in NZ?
Caring - Yeah right. pull the other one, it plays jingle bells