This unfortunately my last post for a while as I have to deal with very serious personal family matters aboard. Some will celebrate! Especially our board I guess! But I would like to thank you all for all your support and kind words over this period. I sincerely hope our board actually do the right thing and finally wake up and start to look after holders especially the LTSH's and actually unlock serious value. All the best Wabb's enjoyed our banter.
All I know is if you have a buy in price over $1.50 you will struggle to see a profit. We will be well and truly sold out before then. It's obvious to me. Comparing other companies is pointless we are stuck with the same who took us from $1.50 to 26.5c. Consolidated way too much. Drilled a hole and blown it, now incurring another 6-8 months and an extra $2m to fix their mistakes if indeed they are successful. My question is who is accountable and responsible? Does anyone actually care, I do but does our board, seems to me they don't care what holders think anymore they have their jobs now and are hell bent on protecting that.
I agree with most this is a very frustrating and underperforming stock, why is this the case? 65-75c is fact ATM look at performance, brokers aren't always that stupid but most are who work with companies from time to time. Market ATM doesn't have the confidence of our structure and cash balance is weak. Board are the only ones who can change this entiment. Maybe MIN will assist and honour that they do want to work hard and not T/O, who knows. But business is business, leave underperformers long enough and capitalise later, concerning for me.
Once MIN get cheap options and take 25% what chance will any holder ever have a say, especially when a director has a huge % plus mates. Well done to the board, great executed plan unlikely but will avoid accountability prior to AGM. Game over is fast approaching, they will do what ever they want to do, in complete control and who will actually care about holders then. Watch what will happen. I really feel for the LTSH's, who believed and trusted. You all got the best underperformers, we have all been sadly disappointed by them. But we will ultimately pay the price as they won't. Stock market is full of this and will continue unless dramatic change happens. It's needed.
All I can see and hope is that another company T/O asap, if not we are all in for a very, very, very long ride to see any unlocking of SH value. Please don't let this team drill again, please save us from that! Remember $1.50 is the bench mark NOT 50c. Just think about it. They have majorly underperformed in my book.
I cannot believe this stock is in a situation where it's board now appears to thumb their noses up at it's holders, silence and celebrates another company rescuing them from their mistakes, bad decisions and hold hardly any shares, except one who must be a fighter, unfortunately we are in this present scenario and they will never be held to account or responsibility, shocking state to be in for many LTSH's from where I see it. It's been a horrible ride and sad state of affairs. Very few winners ever going to be in our register the way I see it. What happens once MIN get their options, is game over for any holder ever having a say, why even bother to vote on anything going forward. Pointless!
As they say - perform bad enough, get someone in to control and shut out any opposition, and then we control and do as we will, what a life style! Buy hardly any shares and make decisions to sell parts to get control. Sad part for me is many of my friends have small businesses and work so hard. Directors do jack and implement plans to save their collective backsides. How can this ever happen in this day, wake up ASX, ASIC, people and holders need protection from this. We have no protection do we. Holders will have no say going forward within EGO.
My advice to holders over $1.50 as kit says buy heaps average down and get out of this company, unfortunately many cannot afford to do this. They seem not that worried to unlock value for LTSH's after 3 years or any time soon, drill really slow and extend until 2018 we might have 2 holes by then and just spend more to cover up mistakes. Shut the voice and control is how I see this company going now! GLTA unfortunately many on this register will never break even as I see it. WELL DONE EGO BOARD PURE LEGENDS!!!! Hope you sleep well most of us DON'T and believed and trusted you all.
I wouldn't employ most of you to run a sausage sizzle at Bunnings. you have seriously disappointed me and many LTSH's. Please have a look at what you have done, achieved and performed before you put your hand out again for more free shares. HEY no of us will ever be able to vote against anything you present going forward will we!! Unbelievable, could say more but won't! GLTA and ALL THE VERY BEST! Goodbye for now and once again thanks for your kind words. Singa!!!
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