I’m starting to think they actually believe their investor...

I’m starting to think they actually believe their investor relations approach is acceptable—maybe even effective—when in reality, it’s anything but. Instead of using proper, transparent channels like ASX announcements or detailed investor updates, they seem content to let shareholders hunt for scraps of information in third-party interviews, inconsistent media coverage, or promotional research with unclear objectivity.

It’s hard not to feel disappointed. Shareholders have raised legitimate concerns repeatedly, yet the standard response is either “Noted” or complete silence. At some point, you have to wonder whether there’s any real intention to engage at all.

Maybe I’ve been fooling myself into thinking they care. Because if they did, we’d see consistency, we’d see clarity, and we’d see them taking the temperature of the shareholder base seriously. Instead, the IR strategy feels more like a checkbox exercise to satisfy minimal obligations, rather than an authentic commitment to transparency or accountability.

And let’s not ignore the growing perception that there's an underlying disconnect—a cultural and strategic mismatch between the board, largely US-based, and its predominantly Australian retail shareholder base. That, more than anything, could be at the root of this dysfunction.

Footnote: Credit to FactFinder for the apt phrase—perhaps this is just business as usual under the watchful eye of the “American Overlords.”