Hi
@Basileus,
Thanks for the tag and comments. I think
@nihilism was referring to some other posts, not yours or mine.
Like you , I am extremely busy and not trying to avoid questions. There is just a lot of them and I am trying to respond respectfully with the limited time I have, whilst highlighting a few possible points of irrelevance.
Look forward to your next dialogue.
(if I may borrow - I didn't see a ™
Hi
@nihilism,
"You provided a very positive outlook on an issue" I believe I was trying to point out an external factor (the drought), that should not be discounted when looking at CGB's Food Division results during the 2018 - 19 period. (refer to the announcements during that period) probably not overly positive.
I wrote:
"From discussions with players and reading through industry reports, I have come to the conclusion that it has not been been easy for any seed farming companies".So mate, all good. I respect your comments and as you know, as part of my NDA, I am prohibited to comment on internal discussions or operational policies which also cover discussions on SM during my time as the CGB rep. On the other hand, now, as a private citizen, I can give an opinion on the content that already exists in announcements and talk about external media which might support some of my opinions.
I fully understand that there may be those who are not happy to see me back. There are also a small group of shareholders who have contacted me, privately, very concerned about the constant criticism and attack on the company across SM who have asked me to come back.
As mentioned in one of my first posts, and I acknowledge you have referred to this, is the reason as to why I have come back here. I can confirm that I was asked to provide some clarity to the announcements with an understanding, that there are now some restrictions on what I can write. At this stage I am not interested in posting on other forums in HC as I have a lot of other commitments.
The one main question I am constantly asked, which I have put in two parts, is; 1.
"Why is there such criticism of the company across SM re cash burn and fiscal management when the facts, outlined in the main O/R's, point to year on year sustaining cash balances," and 2
. "Why do I think the company is being penalised for being in a positive cash position?" As I have researched through the 3 iterations of the company: AGV - QBL - CGB, (24 reports) I found, or more to the point,
could not find any auditor's notes of concern. That actually raised my eyebrows, as this is a spec company.
Regarding the Director's participation rights issues there are also concerns that this has also possibly misrepresented across SM and have asked if I can explain that from the announcements.
Here are the 8 main issues I have been questioned about, as rising from the commentary across Social media over these past 2.5 years. I may not be able to answer all of them, but there is a huge amount of information that is available for people to go and check themselves.
1. Competency of the current BOD's to effectively manage the business and its funds
2. Cash burn and usage of available funds
3. Non participation by the senior Director's in the rights issues
4. Funding lifestyles through constant C.R's
5. Inexperienced management and Directors
6. High management fees as administered through AGMPL
7. The Volcan loan
8. The Company stalling on the Bauxite project.
From my own research, as a private citizen, I will try and provide an opinion (only) on these points of issue using the current ann's and external media sources. People are then free to draw their own conclusions. If there is an error, I will apologise, and either provide a correction or withdraw the post.
My posts are just opinions and viewpoints as a private member of HC. I would encourage you to DYOR and check anything written in posts to confirm its validity. It is not provided as investment advice .
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"Comments are an opinion only and should not be relied upon as investment advice. DYOR and fact check all content."
