re: management This off another board (attribution-tarnor)...

re: management This off another board (attribution-tarnor) posted to forum on AAQ (Australis Aquaculture) and somewhat dated now (Sep 04)

Still, for the purposes of discussion - and because I have a small interest in the stock ..........

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You're jokin me......

Alistair Cowden eh....this guy has a very bad track record. You are right with your concerns regarding this character. Lets have a look into his present and past performances as a Company Director of listed entities.

Deep Yellow ("DYL") - went into Administration under controversial circumstances. DOCA has been presented to creditors and accepted, however assets being offered for sale and listed shell being purchased by a vulture Firm. Existing shareholders will be caned as a result - obviously company will be restructed and more shares issued. Dilution will mean existing shareholders will be left with worthless shares.

Rox Resources ("RXL") - a company in which Cowden is MD. Asset ("Menzies" project) backdoor listed from DYL to RXL. The stock has not traded ever over issue price (20c IPO listed in April 2004). Market is concerned about the quality of management and assets. Trading at a heavy discount to IPO, currently at 12.5cents. Traded as low as 11cents.

Vulcan Resources ("VCN") - a blotched attempt to acquire an overseas asset. Company share price has been smashed. Company reputation has also suffered the same fate. Share price trading at 10cents from a 52 week high of 55cents. Price got belted to 7.5cents.

This is just some examples that I know about concerning this guy. To forum members out there, having a look at the past performance of this Director you should run a mile. It definitely does not provide any confidence for his management capabilities or his ability to deliver to add value through shareholder wealth. He just cannot adequalely run companies under his control, it is as simple as that!!

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