Upon reading Tuesdays extremely terse announcement stating '4M4Sale' I thought "why the hell are the directors trying to trash the sp?" ... and I'm still struggling to come to a definitive opinion on that.
If the announcement had included such points as ....
* Whether the court case was to continue (and how late into-it would a bid still be considered)
* The boards opinion on what, using the latest uranium resource/mining metrics, 4M is worth, and what they considered a minimum bid for 4M should be.
* That they had a 'multibagger' resource identified somewhere else - that they absolutely must buy yesterday - that would return far more than 25% of one of the largest (easily extractable) uranium resources on the planet (as the concept of selling 4M at any price merely to go greenfield's exploring in this day and age is an insult to our intelligence).
* A reason why they simply cannot continue mining with Q/H.
* Etc (i.e. a full and honest breakdown on how they come to such a monumental decision)
....then it is very probable that we'd have a stable sp today!
BUT THEY DIDN'T ... the announcement was a disgrace (less than 70 words in total) and I do believe it's brevity was such that it borders on contempt of the full disclosure rules (don't lecture me again please J1/FO on breaching any libel rules as I'm confident that this post pass's muster) or, in the very least, shows little regard for AGS's long suffering shareholders... and it appears that the board, regardless of their 34% holding, don't give a damn about maintaining the markets confidence in AGS and, therefore, the sp.
AGS Price at posting:
16.0¢ Sentiment: Hold Disclosure: Held
