Well, I'll agree with you there...
"most individual investors are about as important as a long piss into Sydney Harbour and equally as knowledgeable."
2-3 years ago some on these threads were questioning the board make-up going forward....it detail.
Take a read of the...
2019 Notice of Annual General Meeting/Proxy Form thread.
SHs asking questions, isn't emotional ranting.
Saying what's happened in the past can't change the future...isn't what being a shareholder on the ASX is about, at least not on the sub 500M part of town
Which happens to be 1500+ stocks.
Everyone was saying and even I was maybe agreeing with them back then...
"Juss, these blokes got us from 1 cent to 15. I'm going to stay with them."
*Where you one of them?
It wasn't hindsight, it was plain common sense that the BOD back then had no experience taking ADN to the next level.
It not a personal go at them, it's just as simple as looking at their resumes.
Let's be honest.
It's "those" many poor decisions by the BOD that got us to 7c, not covid or U war or rates.
Lots of others stocks that didn't fall 70% in 5 months or have progressed their project or moved on and increased shareholder value in the past 18 months.
One could go so far and say that shareholders were at fault for allowing some of this to happen the past 3 years.
Our 14,000 shareholder base is one of the smartest on the ASX.
Even the posters who I don't like and don't like me. I have to admit...know a few things.
So, asking questions now seems pretty logical.
BTW...The, you have to be patient train left in Feb.
When I started out many years ago I was told by a bunch of older/wiser investors.
It's the investor's job to keep management accountable.
If you don't.....
/
Well, look what happened?
Regardless of the MEP deal, which I love!
It was worth the delay, I would have waited another 6 months to get 100% of everything.
The Feb 2022 start was technically impossible. So why state it repeatedly 6-12 months before?
Did James not know this? Was he told to say this?
Honestly, I don't even want the answer to that.
Where it's more relevant now unfortunately is the PEPR comments.
Many times and at that recent SA mining conference which was in front of the SA mining industry.
*The pro who do this for a living in SA.
James said that the PEPR. is "straightforward" and shouldn't take as long as the ML.
Why did he say that?
Shouldn't he have been told NOT to give guidance on things he can't control?
Or did he actually think it was "straightforward"
Honest and serious questions.
James is a jedi in the product/market area. No one has more insight than him...
In mgmt. of bringing a hundred million dollar mining project to market (when he's never done that before)? Ummm?
and you know what, it wasn't his fault.
As a 15M MC ASX play it seemed like a good idea "at the time" to bring his 25-year dream to reality.
With Mick and Austen here now, no way that message would have been given 12 months ago.
Yet, 2-3 years ago all that was said was.
"If we bring on new directors it will take them 6-12 months to get up to speed and learn the business."FFS! really?
With the last chair all we had was 12 months of a bad share performance and an uncomfortable AM.
Then out the door to chase the next shiny bit of tinsel he went.
-I guess easier is better than hard?
Quality chairs don't run when the tough part starts.
Mick buying tells me he believes in this and is going to make it a massive success.
I do agree 100%
We need to give Mick, Austen more to right the ship.
and Mellissa to find 2 more quality directors.
*2 more experienced quality board hires and ADN is unstoppable IMO.
It must never be forgotten that ADN has 100+ year resource of a very profitable and boring business.
It's extremely valuable!
Plus, It's Nano business which it now 100% controls "could" be worth billions IF...IF done right.
Time is our friend and enemy.
You just can't have penny stock brokers and smart ppl. who don't have experience in areas they no nothing about, at the helm.
That's what's happened to ADN IMO. In a nutshell.
Everyone needs to do what they are good at.
As a loyal shareholder who's down 70%...
My job is to ask questions of the current and the past.
BTW...I only had a few ADN shares at the last AM vote. Most of mine and a bunch of other large ADN SHs, were in MEP still.
So it looks like most of your ADN holders weren't happy.
Now?
No updates, delays?
As I've said...
Strangely this is why I think ADN fixes itself in the next 4-5 months.
If not, many of the current directors will be moved to mgmt. roles only...if they don't get runs on the board.
If you step back and look at it. This could be the best thing for them and ADN.
With even more experienced directors coming on board the company can start acting like a pre-producer with great upside from the Nano opportunities.
If ADN is at 7c in 5 months, there WILL be change whether you like it or not.
(This was likely before the addition of 4,000 new retail holders, who most are at a loss now and in the dark.)
The current BOD are fully aware of this.
IMO, SHs big and small are just correcting their past mistakes.
Let's just wait and see how the next 4 months go.
My bet is ADN get's out of this hole.
If not, shareholders will do it for them.
(20min delay)