I remember the Extroadinary GM in April (As I recall)
Looking back it was hilarious.
The company secretary had miscalculated when he was dilluting and triggered an EGM under ASX rules. So they all had to front up upstairs at the Irish club to push through a vote through a cap raising for a pittance.
I showed and asked a few questions and was eventually shut down by MR Hunt (Chairman and Lawyer). I asked him "If he had somewhere else he'd rather be". He took exception to my impertenence and I felt like a country yob being dressed down by the local Magistrate.
The share price at the time was about .25.They had just done a placement to Sophisticates and dilluted us. I expressed frustration to JW who declared "sell if you like". My comment was "Is that your advice as the MD of this company...to Sell?" In retrospect I could have saved 70 grand by getting out then. Unfortunately I thought even these men of modest ability could get a Laverton Gold Mine swinging.
Overall the incompetence combined with the complete disregard for any duties they had towards shareholders was pretty telling. It was at this meeting that Liam was announced as the new Investor Liason guy. I think its fair to say by any real measurethat information flow is still pathetic.
My final interaction with A1 was at AMEC. I attended their presentation. It was dreadfull. What did I do? I went and brought more shares. I wanted to believe that despite their total lack of proffesionalism in every visable aspect where it mattered out on site they could at least make brightstar into a mediocre mine. Not a star, just something that allowed the shareprice to reflect a modest profit and some exploration upside. This has been a battle of epic proportions.
A1 is like the special olympics in that it appears to me that the normal measures and standards fail to apply. Why are people so eager to provide excuses for the performance of both the assets and the board?
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