should one write to the asx?, page-14

Japes,

the only hope for this stock is for CLR to have a run, and some hedge fund comes in and buys into WAL so as to spill the board.

The lesson learned is that you will never have a company with poor managers at the helm, regardless of how attractive the asset may be.

Denver is correct in that these guys got very lucky in being given CLR shares.

However, what they have since done is destroy the opportunity by acquiring coal permits which have found to be duds, bought a vineyard (probably form a related party), bought an office with some apartments above them, and put in place an on-market share buyback which made no sense whatsoever.

And now they have bought into gold....surely to wipe out any remaining value.

Fortunately, they still have a few CLR shares remaining, however, once these are sold, and the proceeds wasted, this stock will be trading at 5c.

Little wonder there are no buyers interested in this basket case.

A shame really. An opportunity being destroyed purely because of the incompetence of the board.

If I had a larger shareholding, I would dig deeper into the board members to see why certain transactions occurred. At this point, my small holding doesn't warrant me to waste my time at this point. However, I'm sure someone will take a closer look at it.

By the way, they changed the company's purpose as a 'mining company' recently, however, have since bought a vineyard and apartments. Does this make any sense???

This is laughable.