is it just management? or is it broader?

Given news is slow these days, I thought I would put an extract up from another historic article from the Australian.

Yes, I know it dates back from October, but I don't think things have changed too greatly. Yes, we all know the market is crap, but I also note regular posts bagging management for our position. Sure, may be there is more they could/should have done , but given the market.......would anything they have done changed anything?

Also, it would be nice to hear views about what they should (could) have done, not just a simple generalised comment about them doing a bad job.

Please don't think I am saying people are wrong, it would just be nice to hear 'more' constructive criticism. You never know, management might pick up on it......

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Sympathy deserved as copper stocks come a cropper
BY: BARRY FITZGERALD From: The Australian October 17, 2012 12:00AM
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THE goldminers deservedly get some sympathy for their moan about the disconnect between the strong gold price and their share prices.

But some of that sympathy should be reserved for the junior copper producers/explorers.

Despite the red metal more than holding its value - and forecasts it will continue to do so for the foreseeable future - those in the junior copper space have been treated as if the price of their underlying commodity has been smashed along with the rest of the base metals sector.

While the current copper price of $US3.70 a pound is down some 7.5 per cent on the pre-China slowdown average in 2011 of $US4 a pound, that's a long way short of the 15-25 per cent price hits on the rest of the base metals.

More to the point, the current copper price is one at which just about everyone gets to make money. That's not the case with the rest of the base metals, aluminium and nickel in particular.

All that explains why there has been some merger and acquisition activity in the junior copper sector. More is expected.

Most recently there was the spurned bid for ASX-listed Botswana copper producer Discovery Metals (DML) from Chinese interests. It was spurned despite being at a 56 per cent premium to Discovery's 20-day share price average.

Had anyone asked Discovery before the Chinese state-funded bid landed what it thought it was worth, it would have talked to the disconnect mentioned above and nominated something well north of both where the market had it at the time ($1.30 a share), and where the Chinese thought there was value to be had at the indicated offer price of $1.70 a share.

Discovery is now holding at $1.66 a share to be just below the failed $1.70 a share approach. So thanks to the Chinese, its equity value is not as disconnected as it was from the higher levels that its operating asset in sunny Botswana, and the ongoing strength of the copper price, has long suggested it should be trading at.

But for other copper juniors, the disconnect continues, for the time being at least.