As a shareholder I agree with firelines...These Austrians, (two bankers and a mining guy) are minority shareholders and they want to take over control this company (and my capital) - NO THANKS. If they do get control what is stopping them in the future selling off assets or spinning them out as they please. I DEFINITELY WON'T be handing over control to these jokers. A call to the company helped me understand the delays. The Shire Councils of Murray and Serpentine/Jarradale were dead set against Keysbrook going ahead. After a drawn out fight the company finally got the tick off after the State Administrative Tribunal ordered the councils to let the mining proceed. The other delay was the fire at the plant which was outside the boards control. Another delay was the insurance company drawing out and under-delivering payment for the plant repair. Most importantly, a portion of the delays have actually been caused by Stirling Ziron and these Austrians themselves!!! Stirling were due to put in $2,000,000 back in June 2011 at 2c per share (see ann. 28th June 2011) - and they didn't. Then they were supposed to put in for the rights that they were entitled to at 0.9c - 250,000,000 units - and they didn't. They have not supported the company whatsoever over the last 12 months and now they want to jump on the assets that the other 70% of shareholders own? I say go back to Austria! interesting getting advice from Stirling...Why don't they concentrate on getting their own company back on the boards - from the announcements regarding the very “interesting” proposed asset sales/transfers (ann. 16/03/2011 & 02/09/2011) it appears these Austrians are treating SRE like their personal piggy bank. That cash balance looks very untidy. I do agree the MZI board are not tip top promoters but I've total faith in them pulling minerals out of the ground and making money and they deserve to have a crack.
All IMHO
DYOR
MZI Price at posting:
1.2¢ Sentiment: Buy Disclosure: Held
