MDI 15.8% 1.6¢ middle island resources limited

I have to say that if there is an award for "worst management on...

  1. 498 Posts.
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    I have to say that if there is an award for "worst management on the ASX" this lazy asses Board will surely win it! Once the AGM is held, we should hand them this award ourselves before kicking them out from their job. I doubt that they would be able to find a job anywhere else with this kind of ability and work ethics.

    - They hyped about a positive FS in every single announcements last year.
    - Focus attention of SHs on the $10M cost to refurbish the plant and only 6 months to start pouring Gold!
    - Delayed FS months after months. Calm SHs by saying that everything is on track and "no material issues".
    - Hyped about being the only plant in a multimillion ounces gold region with opportunity for monopoly toll milling. But not a single contract was signed.
    - Bought AME at high and sell at low. Threw 600k hard earn SHs money out of the window.
    - They only start to do a field trip to Barkly near the release date of FS.
    - Release quarterly on the last day after market hours. Common sloths, stop drinking and do some work!!
    - SP is now dow 80% from the high. Still zero support from the Board. They should be buying on market now to show confidence! They were the ones who hyped all the way so they should align themselves with SHs.
    - 6 weeks since a dismal FS. Still no plan at all. Missed another 2 deadlines. How hard it is to update SHs about whats going on and what the plan gonna be?

    Late April???

    https://hotcopper.com.au/data/attachments/3196/3196319-30e16f573fe95ee0d56ad17ab31a0673.jpg
    Latest mid-May???
    https://hotcopper.com.au/data/attachments/3196/3196316-6367b5aed67c82ecbbabe6b34f95bdb0.jpg

    2 other stocks that I held that turned around brilliantly are Fin and Bpm. Down for more than 50% from their high because of not so good drilling assay, but immediately use the remanining cash for the acquisitition of high value projects. SP rocketed and I was still able to get out with hefty profits. I doubt that this BS management would be able to do the same. I still hold because of Barkly but we really need a change of management here.
 
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Last trade - 16.10pm 26/04/2024 (20 minute delay) ?
Last
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