IMHO our very own Board are the major impediment to the success...

IMHO our very own Board are the major impediment to the success of Albidon & the mid-cap status that we all crave, a truly odd situation. As drunkensailor1 says they are not well-suited to Western markets, & desperately need to amend their structure & philosophies: they only need look at the recent trading volumes to see the lack of confidence.

Q. What is the one thing that will really make the stock kick on, THE 'gesture' they can make?
A. Announce that the remainder of the Convertible Notes are to be repaid from Company cash or converted to a normal loan as part of a refinancing, & that the mooted Capital Raising is cancelled too.

As things stand they are operating under the philosophy that they may make mid-cap status & secure their precious supply of metals into China with the Notes & fund raising in place, thus we have the spectre of the fund raising coming at any time. This is 100% wrong IMHO, they need to scrap this idea & let the stock accelerate to fair value & only THEN put plans in place for M&A - WHY can they not see this?

They also need to assert their independence from Jinchuan & work for the benefit of ALL shareholders.

I also feel they should employ a well-respected broker to clearly hammer home to our Board the effect the Notes & Capital Raising are having on the stock, & how huge would be the advantage to all of the removal of same.

The mandate of the Board must change from achieve mid-cap status (by any means) to reach fair value & work for all shareholders THEN achieve mid-cap status. The Board is clearly not functioning & is viewed with a high degree of suspicion by the market, they need to change & now - more Western appointments to the Board would also help.

Maybe it is UP TO US to assist David Round in educating them as to how an ASX listing works, I'm sure David is trying his hardest but their mantra seems to be slowly slowly which evidently conflicts with our shareholder interests & market cycles. Two & a quarter years since the bear market nadir & we are STILL in the toilet, how much time is left for them to get that share price moving to fair value?

I shall be composing an email to Jian Hua & David Round today & requesting that they forward to the Board. An element of urgency needs to be injected & now, there is much evidence of complacency...

That recent Research Report had some interesting projected share prices based on NPV's & cash, they concur with those based on forward P/E's - what is clear from all these figures is that the Company should be valued now at ~$1. We sit at 11c & our Board is the reason why.