I held Alkane pre-demerger in part because of this asset. I never agreed with the de-merger (two nice consolidated and synergistic business units made sense with the solid platform of Alkane and growth possibilities for ASM) and the business plight of both since have pretty much shown that correct.
ASM got pumped by the usual next best mining thing and I sold out at a nice profit (far short of the ridiculous highs) and indeed Alkane. I was genuinely optimistic on the removal of Woodall (and RS appointment) and jittery shaken out of the share registry. It seems most long-term stalwarts as well as the exuberant crowd long gone.
Poor management of two business units that never should have split. Ironically I recently bought back into ALK too - fortuitously near the lows. ASM I am still buying but its the one real Aussie blight on more portfolio and that really has been to a great degree Rowena's unmet guidance and failure to advance to KMP offtake contracts.
More will contracts will soon come no doubt and rescue this, but there has been undeniable poor management of those that already did.
ASM Price at posting:
40.0¢ Sentiment: Buy Disclosure: Held
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