Some interesting points put out in a SAG email this afternoon. About sums things up..........................
"Highlights" coinciding with the current Managing Director's term at the Company (3 1/2 years) FYI :
1. Our share price has approximately halved
2. The shares on issue have approximately doubled (167mill to 322mill)
3. The Management and Board have little skin in the game (less than 0.7%)
4. Cash outgoings from quarterlies approx $10mill (mostly in administration)
5. Sale of SCONI $6mill when a very good arrangement whereby AUZ were obligated to either spend $10mill or complete a DFS to secure only 50% of the Project
6. Wasted shareholders funds pursuing the "unfair" aborted Melior Merger
7. Confused direction - multi commodity to bauxite pure play to risky Solomons back to multi commodity. Where to next ?
8. Poor communication and repetitive presentations