AKK (ASX) Pending news

Originally posted by SamOsborne94 ↑

I at times can feel impatient and annoyed with management when it goes a month without an annoucement, however I remind myself it is my own psychology, the facts haven't changed. Getting oil out of the ground is not an easy process and it would be an inefficient use of management's time announcing every drop of oil.

Management would have a comprehensive long-term strategy that is only worried about one thing, generating wealth for the shareholders, of which they share holder and stand to make a lot of $$$. If you have come here for the quick buck that's your prerogative and good luck you've picked a great company. Just don't complain about management's lack of news, they seem to be ticking all the boxes and the only issue is your allowing yourself to get impatient.

Remember the reasons you got into the company, do these reasons still apply ? What were you aiming to achieve investing, have you achieved this? .. You seem skeptical and unconvinced about this company, maybe exit and reevaluate ?

Let other be people do your research just know between fact and fiction.

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Sam the fact I know the difference between fact and fiction. The fiction is you describing AKK as a great company! The facts are in the last quarter they generated $286k of revenue, had running costs of $1m and spent a further $3m on exploration. The $3.7m deficit was funded by investors like me who have every right to try and hold the 11 well paid members of management on the front page of the same quarterly accountable!

I'm not here for a quick buck but I'm also not here to be scamed out of my hard earned by yet ASX listed entity that derives all its cash from selling stock and discloses selectively in order to do it. I don't think that AKK is one of those but there are some worrying aspects to this story. On that front, Cmon is doing a great job of going back over the history of some of their announcements.

You accidentally hit on the main point with your last sentence. Fact versus fiction. I have held AKK for a few years now. When I bought it they more revenue, in fact they had revenue that exceeded operating costs. They are promising that again for next quarter I think with their vague cash flow positive guidance. Perhaps this time they can build on that and one day grow into the great company you talk about. I'm increasingly having doubts though. So far they are mainly great at promoting a company with virtually no revenue and using the story to sell discounted stock.

I will believe again if they get the finance facility on reasonable terms. I doubt they will though myself. Maybe they had a chance when credit was in a bull market but don't think so now. At least not without selling their soul.

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