Towie, to be quite frank, the way that management has handled these last 8 years and in particular the last 3, I have absolutely no idea what their ultimate agenda is. Are its shareholders even relevant in their plans? There is no way that I will even think about what they should, could or would do. In my mind, everything that they have done these last years defies logic and without logic, I cannot draw any conclusions.
IMO, that deep drill in NZ, buying the rest of Ashford, losing that $400K from that 5,000 trial beggar belief and what about that coal mine that was stolen from them way back? People can do their own research there. IMO, ALL management mistakes confirming my belief that they should stick to what they are trained to do, juggling other people's money and leave mining up to the experts.
The ONLY thing that I have seen over the years that has "favoured" shareholders was when they restructured Renison and didn't just walk. But, that's proven to be a pyrrhic "victory" for those shareholders due to massive dilution, exacerbated by the same "saviour" paying out his debt from Renison with shares in the newly reconstructed Laneway, effectively destroying that "victory" for Laneway shareholders whose original Renison investment is virtually worthless today. These last years have all been for management and the other majority shareholders, with nothing for the former Renison shareholders and very little for exclusive LNY ones.
I said at the time that LNY was formed that people should treat LNY as a new company with great prospects. So, for those that have no Renison connection, that view still exists, but, it seems that management's ability to bring this to fruition and their treatment of ordinary shareholders, leaves me with great frustration and disappointment.
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