Stretguy makes good points about corporate culture. It is...

Stretguy makes good points about corporate culture. It is obvious in a rampant capitalistic culture the Board and Senior Executives come first, and shareholders last. Look no further than the mountainous pages in Annual Reports devoted to remuneration reports, contrasting with the one liner stating, "The Board has decided not to declare a dividend this year". This happens simultaneously with the issuing of millions of incentive based shares to top management. And all this is going on while we have $400 million wiped off our market cap. To act honourably in the case of AMI for me would involve taking your salary and be happy with that until such time as value is returned to shareholders. But we don't get that do we?

Another characteristic of any group under threat of transparency is that they close ranks. I think Clifford left or was pushed (I'm guessing because the company wasn't transparent) when things couldn't have got much worse other than complete failure. How was the decline allowed to continue unabated. To insult shareholders more, the company is on record saying he was a very hard working CEO/MD. I could be very hard working digging a road from Sydney to Cobar with a spade, but what the hell good is that? So the admittance of major deficiencies in personal hirage even before the Dragues debacle, and the failure to act in a more timely way when things were becoming critical, remains hopelessly opaque, which of course means, anything but transparent.

We still have the supposed exciting drill targets to address re Dragues. Like I said 5 minutes after the purchase, the grades don't stack up, we've paid a fortune and taken all the risk. Where are these exciting targets? They were the only hope.

I'll address Joelstar (whose posts I appreciate) at some point in the future. We've waited quiet a while for anything noteworthy to come from management that might stimulate some buying and that might make sellers disinclined to offer at these prices. I'll leave it at this stage by simply saying, when you are trying to rebuild trust, you need to communicate more to investors than if you are in the situation of having established trust. To this end it might have been nice to know how we were trending as far as ops go. When a relationship crashes if you hope to rebuild it, you don't stop talking for two and a half months (the last presentation was 14th Nov- quarterly will probably come late Jan). It makes me think the Board still doesn't get it.