And the lucky winner of all the money tipped in by some of the highest profile, wealthiest, best international operators with expertise and ego's unrivalled by no other is..........The lawyers!!!! yaaaaay....
This stock is the biggest tragedy on the asx!
Even if the disgruntled shareholders had a reason to make waves, the way they have done it has just sent the company down the drain and the shareprice with it. While everybody blames each other and the money in the bank is burning while investors who dont understand the language and probably nothing to do with corporate australia persist with ridiculous methods of resolving some alleged damaging situation to do with management and long term shareholders pre aym ipo band together to defend the pride of a wealthy chinese shareholder and his wife for their board positions and push to remove the founder of the company because he allegedly attaches greedy rewards to each deal he does for the company, all at the expense of 400 other small shareholders investment as well and they cant even exit the stock because no one will buy them, and now with seemingly lengthy supreme court proceedings which inevitably will empty the millions in altius coffers into the hands of greedy lawyers...this company is doomed and has almost no prospects left. It would be great if the unhappy shareholders could just exit their positions instead of being self righteous knuckleheads themselves and pursuing legal action in such a way that only damages the company further than it allegedly was before they tried to intervene. But unfortunately this group of disgruntled shareholders have circulated so much negative sentiment about the company that NO one can exit now!!! What a great help they have been! And I cant wait to see if they win and my investment be in the hands of a lovely chinese husband and wife who cannot speak the language or have a clue. yes that was a full stop. and the pack of hyenas and vultures surrounding them probably to pick at their bones because they have shown they can throw a few million into an ipo....more like ibises trying to stick their big noses in the rubbish bins! Management might be bad and the founder of the company as well might be a bad operator, but he didnt take the vaule out of the company, he still had it filled up with cash at all times...and if he spent it in the past, he managed to fill the bank back up again....so he hasnt been that bad by my share value. At least my shares still had some cash value...but with this court case proceeding its probably a better idea to just close shop and do a distribution to all shareholders before there is nothing left!
What a GOLD mine this has turned out to be!
I'd like to just see them produce 1 gold bar though......10 years later....nothing....
Funny thing is I heard all these groups of shareholders were very wealthy, powerful groups of high profile people. They are just the biggest bunch of kids with ego's so far up their backsides that they cant sit down and sort it out intelligently....and they cant even get legal proceeding s done right....no one here in this company gets anything right...Im embarrassed to be a shareholder...If I had as big a pride issue as the groups involved in these legal proceedings I would forfeit my shares altogether and disown any allegation I could be seen as co-joined or grouped with such a bunch of morons.
I might make a takeover bid on the company in 6 months when the legal proceedings are probably about to be heard and see if I offer 2 cents a share I reckon will be a good deal for the company to accept by then.
Who even knows if any of the projects or tenements are even worthwhile???
They might all turn out to be complete garbage....
It certainly wouldnt surprise me....
As a little cog in such a big wheel of high profile bigshot billionaire players I am actually really annoyed at how these other shareholders have really stuffed up the shareprice and reputation of the company as a hopeful explorer to a hopeless mess. There is no business activity or mining work proceeding, no gold, there is only legal work being produced and not at the rate of 100,000 ounces of gold a year but at millions of dollars of legal expenses no doubt this year.
This company has been listed for all of 5 months or so and 4 months of it has been fighting and what a great supportive group of shareholders who havent supported the company to producing anything except injunctions to stop all business from going ahead.
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