The issue of the stamp is a very minor one but is symptomatic (a symbol) of the provincial approach taken by our HDR management over a number of years, starting for me with the infamous 'plug and abandon' announcement of Chinguetti.
And topped by the massive giveaway of value to institutions and mates at a significant discount (plus the entitlement for them to line up at the trough for the rights issue at a discounted $1.10) just BEFORE announcements of information (the woodside 20+ drilling program) that has so obviously underpinned the share's value of late.
You might call it unfortunate and yes, each time you might be able find excuses for them; but the pattern is consistent. They either are incapable of learning or are unconcerned. Either is a problem small shareholders imo.
The management imo is out of their depth - saved only by Woodside being the big brother. If you haven't already, it might be worthwhile looking at the depth and breadth of their experience (or lack of) prior to hardman's initial drilling success. Not much there that is noteworthy, is there?
I believe that the company will continue to prosper despite their involvement (given Woodside involvement and shareholding). Imagine, however, the outcome if some decent management was applied.
I am sure some of you will not agree with me on this, overall - and thats fine. And who knows, they (HDR management) might pleasantly surprise me sometime. I hope so but fear not.
Cheers and best wishes to all.
OG
HDR
hardman resources limited
