AGM australian governance & ethical index fund

Roger, just want to correct a few things you have said.There are...

  1. 2,774 Posts.
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    Roger, just want to correct a few things you have said.

    There are VERY FEW who give the the abnoxious blowhard braggart who tries to dominate this forum any credit for “picking the market” He simply got burnt on this stock at $1.17 and started downramping when the price started to fall out of sheer spite. Yes a few people have been fooled by him, but they know even less than he does about AGM, nickel or indeed the stockmarket- and that’s very little indeed.

    In your earlier post you did make some pretty low guesses for the future SP and you invented most of the reasons why.

    a)“I also think management has completed lost their direction and are in disarray at the moment. They suffer from 'scared of success' syndrome.”

    Most people who have been following this company would be aware of the stated direction this company is headed in, its been repeated numerous times, but check the annual report. It includes to get the processing plant up, near mine exploration etc.

    Show us where they have deviated from this plan and lost direction.

    b) “They are not doing any exploration drilling, an increase of production is not forthcoming and a TSX listing is all but forgotten.”

    You haven’t read ANY quarterly reports, annual reports or looked at AGMs website have you? As for the TSX listing this is only an idea that the board will be looking at. As pointed out by Tony HR it’s a complex issue, and those Australian companies that have done it have not benefited at all from doing it.

    Where did you hear that its been forgotten? Where did you get the information that the drilling program has been halted?

    c) “I think the only hope for AGM holders is a takeover so some proper management could come in”

    If you were a shareholder in AGM you would not express this view. Why would anyone want to see AGMs profits subsidise someone elses projects and dilute the returns to shareholders.

    You imply that management is “poor” when its record is exceptional! If you believe its poor give us some examples!

    d) About Lion Selection Group- “Wait till they start selling the rest of their 10% holding. Disaster.”

    You are probably unaware that LSG charter stated that once the investment in a company doubles, it must be sold. They broke their own rules to hang on to AGM and its payed handsomely. But they have been careful to sell only a few shares at a time so as to not adversely effect the market. You haven’t read the announcement – details of numbers sold dates etc are all there!

    You are entited to express your views- but expect to be attacked if you make up reasons which have no substance!
 
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