Just as we called it (a few-moons ago) the 'feel good' news flow for GXY shareholders, would come PRECISELY when the B.O.D. members are desperate for our re-election votes..Hmmm anyone really surprised ? The pay cuts (clearly demanded by Ausbil IMO based on their document posted here previously) are made public just as online voting instructions reach shareholders.
Leopards don't change their spots..just painted over until re-election occurs. It's still in our hands. My votes are cast. If it wasn't for the bonus POSCO sale, we'd have almost Au $200 million debt (well over US $100 million ) in debt. Over US $100 million cash has been burned through and the tens of millions $ poured down the A40 drain has simply been swept under the carpet.
I buy the GXY dips because i believe we have high potential assets..including a working mine in W.A. Getting rid of some dead-wood on our B.O.D. will give us the opportunity to refresh and change the culture at Galaxy HQ. Many here are far-from-impressed that our Chairman's son was handed a fat cash-bonus for 'assisting' with the paperwork on the POSCO sale/proceeds..part of the cash burn. Retail shareholders have been snubbed for way too long. Enjoy the bump in our SP and recognize where it's coming from..We called this situation months ago..Real improvements lay in our hands..our online voting that puts the events of the last year-or-so in perspective
GXY Price at posting:
76.0¢ Sentiment: Buy Disclosure: Held
