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Let me guess how the meeting will go, although I would love to...

  1. 5,472 Posts.
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    Let me guess how the meeting will go, although I would love to be proven wrong.
    RJ will explain where things are at,using phrases such as...... we have a rig..... but when specifically questioned he will back off a little and admit....well we havent signed a contract yet.The same smoke will appear regarding a potential gas sales contract. He will claim that many companies are knocking on the door but they all want to get a cheap deal which will not be in the interests of ICN.Soooo these things all take time and I wont be rushed, he will say.Then of course he will push the old favourite.....we are sitting on a very valuable resource and we need to make sure we get the full benefit.
    All of this will be aimed to placate the Qld mums and dads and other unsavvy investors who have never heard of Hot Copper and have no understanding of where this companys share price should be and what should have been achieved by now.Unfortunately most of the Board fall into a similar category,... called the zero industry experience category, which of course must suit RJ because nobody will ask him any tough questions and if they do then they wont understand the answer.
    Somebody might have the gumption to ask about the corporate goal he set back in May which from memory was that the market cap would be $100million in a year and $300 million in a bit longer. Of course how finances are holding up may be another question. RJ will then use the GFC (global financial crisis) as an excuse for putting everything on hold for another year or two, during which time he will agree to increase his salary only at the rate of inflation,....but dont worry folks , we are sitting on a valuable resource.
    Sorry but there appears to be only one solution to this mess.
 
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