That's a good question @Cheapchuck and I have heard both sides of the tale..
What we need to be mindful of is that Galaxy is a producing company and by that it is time to of course start rewarding the share holders and letting the market know that the company is successful.
I am not saying to stop developing our other assets nor am I saying give us all $1, but providing a modest thank you and recognition of holder loyalty is not an unreasonable view because you don't run a business and not pay those that back you.
We have seen it only recently that the company rewarded its own management with options, and on day like today witnessing my long term holding taking another beating it's disappointing and it makes me wonder why I bother to hold as opposed to trade.
I have pointed out previously that the only way for a holder to make money on this stock is to trade it which destabilises our investments.
At the AGM Anthony Tse said that each asset will operate within it's own silo so they stand alone in some way, meanwhile Mt Cattlin continues to fund development BUT at the same time if Mt Cattlin was our only asset similar to Neometals with Mt Marion we might be receiving some kind of a dividend rather than seeking to develop the other assets.
Is the company more focused on egotistically beating its chest and being the largest, or do they want to shine as the best investment for your money? Because not rewarding the investors is somewhat humiliating to me when all the stock does is cycle and ceases to grow.
It's pretty clear that I am challenging my own investments at the moment and to be honest I wish I didn't have to.
Yesterday the company pointed out in their announcement that Mt Cattlin is well on its way to an annual production rate of 160,000 tonnes, and as a baseline indicator that would equate to annual revenue of AU$176 million dollars meanwhile there is only roughly 400 million shares in the market so it essentially gives an annual revenue of 44 cents per share from Mt Cattlin alone.
Based on that, is it really unaffordable for the company to provide a small dividend to the holders whilst growing and developing the other assets?
GXY Price at posting:
$1.59 Sentiment: Buy Disclosure: Held
