guru's early read, page-6

Guru, nail on the head.

Michaelmore's reign has been disastrous. Effectively, what he has done is -

a) Merged his company with someone else.
b) Written off the investments his company made (Avebury)
c) Wound whatever assets his company had to zero (Century)
d) Pillaged the crown jewels of Oxiana (PH)
e) Destroyed 85% shareholder value of BOTH companies
f) Spent all the cash they raised from selling Nystar to paying salaries of 12 board members and expensive PR work, while the world was crumbling around them.


in 9 months.

10 billion dollar decimation of value is remarkable. Please bear in mind, this 20% of Madoff's criminality.

The man should be hung and quartered. This is not a half glass full scenario. The stock is effectively off the boards. If they sell Prominent Hill, and SG decide to act on Century, Ozminerals will be reduced to a 100 million dollar market cap spec miner, with no debt.

Bear in mind all the institutions and big shareholders own this in the first place because of the promise of Prominent Hill.