So the share price of AGO has plummeted 25% in less than one month and 50% in 18 months...and not one public word from management acknowledging it.
Surely there comes a point where the share price has to be addressed. Management cant just keep talking about their opposition to the MRRT...
I don't blame the company for what is happening, but I would like to read some acknowledgement about their plans to drive share holder wealth. The market didn't react positively to the rail plan. Is management's plan just to focus on this and let the share price continue to slide? I'd prefer to see them out publicly spruiking the company and telling people the company is dirt cheap right now and yes, susceptible to a take over.
When FMG was getting nailed by the shorters during the GFC, Twiggy went on the attack and played a role in getting the govt to ban shorting for a period of time.
I would love to see our new MD start speaking out on the issue, promoting the positives of the company and generally reassuring his soldiers that things are going to be ok.
Things are bad right now, and clearly many investors aren't buying despite the 25% slide because they expect the share price to fall further. I never thought I would see AGO worth $2.25 again, yet the reality is its probably going to get worse.
Directors aren't buying, and haven't been for some time. A show of confidence would be appreciated even if it did nothing for the share price.
Shareholders are rightly expected to have patience. But at what point is our trust and loyalty being taken for granted. Perhaps we aren't there yet, but the time is fast approaching.
AGO Price at posting:
$2.24 Sentiment: LT Buy Disclosure: Held
