Agree with all you said except maybe the point about why they didnt know about the stuff up at Browns - I think it was hidden from them and while ultimatley they are responsible and I have my wn opinion as to why they didnt know (revloves around the board having taken it so far and being weary so once they had RS in as MD they felt they could dump it in his lap and go off to play where they wanted - some perhaps went to the Bahamas to relax on a beach while aonther went to Brazil to chace up an iron ore interest he had - my suspicion is that they let the reigns go too early and dumped it all in RS lap expecting him to get up to speed in a matter of weeks.
Disregarding all that - while I agree with your overview I am also willing to give them the oppo to prove their worth - the new board and employees that is.
You are right - they have the goods in the ground and that is worth investing in espesh at this price. If they dont get it outa the ground someone will and the takepver will be at a higher price than present.
Keep comming back to one thought - it is a new board - am sure nex year those who drew attention away from where it was due wont make the same mistake again and wont want to face a room full of shareholders as angry as this year was.
Am willing to make allownaces for their attitude a it was their first CMR AGM - but wont make allownaces next year. Reckon there would have been a lot of rethinking and talking afte that meeting - am sure if I was on the board I would be rethinking and re talking.
Am hoping they have the qualifications to take it forward and get the impreesion they have. I also accept the rationale that they cant be held liable for the sins of the past board but are well aware they can be hled accountable for further stuff ups and will go to lengths to avoid them.
Came out dissapointed but revamped
Hurry up Oly the soccer is over so get in here and give us your elequant rendission of the meeting - I thin we need it lol I know I do lol
cant be bothered spell chekcing am drunk and ready for bed
CMR Price at posting:
0.0¢ Sentiment: LT Buy Disclosure: Held
