This post is in my opinion, I provide links to the information provided. This post is relevant to the thread as it deals with management .
Hi Koala
Thanks for the acknowledgement, mate I have been posting high quality thoughts, ideas and analysis from my perspective for many years on AUZ and all I got was rebuttals going back to the days of Flippa. (Where is Flippa) It seems that myself and some here have the ability to step back and see things for what hey are, Irony is that those insights are rarely appreciated. I have been right in almost everything I said, time proved that.
Those that have blocked my feed are truly poorer for the experience.
Koala have you thought about this. (This is my own opinion)
That AUZ has been mismanaged for so long that it is unlikely they will get away with it for much longer, the ASX or ASIC will step in and freeze the company leaving shareholders stranded for a long time. There is a lot wrong, in my opinion.
- One possible outcome might be a transplant of management and that is what LG might be waiting for. Credible management throughout, not just MH.
- Furthermore at that point LG could buy this for cents in the dollar, contracting out the mining is just one scenario. BUT, The risk to shareholders is that they will no longer own shares in the resources bought for cents in the dollar.
- LG has a foot in the door, and the resources to step in to save the QLD Government with royalties, SHAREHOLDERS/ Pfffft.
- Sconi is far from ready for development needing a lot of resources and luck.
How does a company get past the BFS in 2018 and to the funding/ partner part of a mining project credibly and
- NOT have a mining lease for Greenvale/ Sconi, the largest part of the project.
- Not have an Environmental Impact Study.
- Not have a tenement to build the processing plant on.
That, Koala is the part where this is in real trouble, additionally shareholders do not trust management, and the necessary dilution needed to get this moving will eliminate the long term holders from their profitable investment entirely. A terrible experience.
This has gone on for too long.
Koala, I will tell you what Australian Mine does have.
- They have a paid for block of land in Greenvale town for the workers residence to be built on.
- They have a mini test plant in WA, costing money and upkeep.
- They have Hydrogen research going on. WTF
- They have DES research going on. That's for Flemington and is their only hope for that resource. (Experimental technology)
- They have a few offices around the country costing money.
- They have fat cats on lavish salaries and shareholders funding that.
- They have N QLD nickel leases that are worthless without the Greenvale lease. Will defence and government grant additional mining lease.
- They have Flemington with nickel resource cut-off grades at 0.24% (Not Viable with current autoclave technology if the plant has to be built as well)
- They have Thackaranga, Mmmmm Oh that's right, nothing happening there either.
- They have a board that has utter contempt for shareholders, I don't think I need to explain that one.
Koala the defining moment for me was in the AGM in Brisbane 2018 where I confronted the board, I got lies and rejection, we all did. In My Opinion
I was made to feel like unwanted trash, that my friend is on them.
The board does NOT front shareholders openly anymore. WHY. Perhaps they do not stand up to scrutiny and know that.
RED
https://wcsecure.weblink.com.au/pdf/AUZ/02523854.pdf Page 33
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