Greetings fellow AGO holders. For those who don't know: Albert is taking a short break from HC but is continuing to be active on our behalf. He has recently received a response from ASIC regarding the delayed 'unmarketable parcels' buy back facility - which shows how seriously directors behaviour is now being scrutinised against a backdrop of the shocking findings of the banking royal commission. This is only one area of scrutiny of course, these pages have been red hot for weeks now with questions regarding the timing of the deal, fair value for shareholders, and many other issues where it seems possible that those employed to protect our investments may have been more focussed on narrower concerns.
These are interesting times for us long term holders, it is good to see the share value inching towards fairer value, but it seems unlikely that we will achieve this solely on the basis of a MinRes pro-rata value. Let's not forget that every $10 snatched from the pockets of small SHs equates to $1000s in the pockets of those with more than enough cash already.
As discussed before; we already have enough SH support to request a meeting with AGO directors - which gives them an opportunity to explain their position to us. If we are satisfied with their submissions, we can go back to working together; if we are not convinced, we can consider certain No Confidence sanctions. The letter can be written and posted at any time, HOWEVER this cannot be the action of only a few persons, it must be seen to be supported by the large majority of small SHs. To achieve this, we are looking for as many of you as possible to put your hands up and indicate how you can demonstrate your commitment to this meeting. For example:
1) the letter needs to be written reflecting SH concerns
2) SH nominees need to attend the meeting with AGO, presumably in Perth
3) a meeting agenda needs to be developed, including a clear summary of what SHs are looking to achieve
4) communication protocols need to be developed
5) a summary of questions should be drawn up, which can be sent to the AGO board in advance of the meeting.
The email address is [email protected]
Congratulations to those of you who have already achieved your own personal fair price and congratulations to those of you who are excited by the proposed takeover. This communication is only of interest to those of you who consider that fair value, based on the through life value of AGO assets you have invested in, has not yet been achieved.
AGO Price at posting:
3.6¢ Sentiment: Hold Disclosure: Held
