Here’s why holders who hang on in hope might do themselves a disservice. There are plenty of loyal long term holders on the threads, but here are a few things to consider.
Plenty here have excused management for statements and projections that have been made, most recently because of the trade war. Before that it was US administration inaction, other speculative proposals clouding the commercial landscape, low global oil prices, Qatar etc.
Now consider these latest excuses: general malaise in the market (sorry I had to throw that one), and low spot prices due to a continuing glut.
Our management team has over 100 years of combined experience and some share holders are saying, “That’s a reasonable excuse, no one saw that coming!” Sure!!
Make all the excuses you can come up with, here are some facts that I see as inexcusable, and bear in mind that the only way many here will ever lower their losses is to buy back in at a timely moment, and then sell for some sort of profit. This to me is the only way because I believe this company will be paying back equity holders and debt financers for a very long time, the result being that the share price will plateau and their won’t be any dividends for share holders. This is not a growth company (despite that they are trying to sell the OSMR technology and suggest BH is viable) and they will have to raise more capital if they want to proceed with Bear Head, which by the way we all know has no supply and costs the company tens of thousands each year just to hold on to.
Ok, regarding all the above, in my opinion there is no excuse for not putting the company in a trading halt before the Vietnam announcement on 16/09/19. They didn’t need to release it before the open, and 'going by the instant responses of the SP, long term holders on these threads, and share holders in general', it was ‘Price Sensitive’.
The price went up over 20% on the Monday of the announcement before they put it into a Trading Halt. The reason LNG gave, was because they didn’t think it would affect the share price. Long term and experienced holders on these threads came out of the blocks like the starter had fired the starting gun. The only person on the threads who later didn’t think it was ‘Price Sensitive’ was a trader who invested in the company six months ago.
Maybe consider this next time you (as share holders) look for excuses, or turn a blind eye to events, or try and claw back some long invested and whittled away money.
Timbo, if you’re out there, you were one that came out of the blocks. Blaming the ASX, and suggesting doubters called LNG a one trick pony, and now they have been proven wrong. Tell me I am wrong, no better still, provide an argument why you, me and other long term holders were all wrong thinking this announcement was price sensitive!! I remember you posted a follow up comment defending LNG’s position about the announcement.
These are my views again, and after working in the industry in the 80’s and 90’s, and holding shares in gas companies from back in the 80’s, I’m pretty sure that announcement was ‘Price Sensitive’.
Why hang on to an argument, you may wonder? Why am I like a dog with a bone that just won’t let go?
Because it’s about accountability and integrity, not 3 years of forgive and forget!!
Because in my view, an executive team with over 100 years combined experience, should demonstrate more professionalism and openness when it comes to market disclosures.
Because there should be more regard for retail share holders that have lost thousands.
I didn’t go and speak at the AGM or phone in to the last Conference Call, because if I did, a lot of people listening might not have liked what they heard. Next time there’s a Conference Call I might just make that call.
Encouraging post from someone this morning on Wilbur Ross talking about the trade war and LNG, but I take it with a grain of salt.
To Timbo and jkerr, you have had discussions with management, how about telling em "no more excuses fellas!!!!"
Expand
