I didn't plan on getting too involved here, as social media is really not my thing, but thank you to all for the kind welcoming, whether by words or thumbs up, I am blown away.
Metalduster, thank you for your thoughts. I will let you know friend that I am not "in love with management", and by no means have rose coloured glasses on. Of course management have a duty of responsibility or accountability to uphold, but being an investment in the stock market, a little bit of blind faith is required where your knowledge or access to further amounts of it cannot take you. If one cannot accept the risk, then best to leave it alone.
I am personally content with all that has been achieved thus far, and the way things have been executed. I do feel sorry for management, as fellow human beings, at reading some of the madness and accusations that have been projected towards and about them. They are still people as you or I, and much of it has been completely unfounded nonsense, in my opinion. A lot of twisting things around to the nth degree and people becoming overly critical. As I said earlier, so much is people's own imaginations, which ultimately they are responsible for, not management. I could quote a million things of this kind. One has a perception management does not care about retail shareholders, maybe they don't, but it still remains to be your own made up view in your head. Would it help if they come and visit every shareholders house to have a cup of tea and some biscuits?
As far as the special dividend, you or I may disagree with it, but given that it's what some shareholders would like or consider, and the question was asked, so an answer was given. And that answer was that there will be surplus cash after the POSCO transaction was complete, and that there would be an exploration of the range of options around what to do with that, including consideration of a one off dividend. I do not see any kind of misinformation given. It would be irresponsible to say anything more than they did before actually having the cash in the bank, and it has taken months to get there, in which time anything can happen or change or something new could crop up, so it is without saying that no sure answer could be given. You can only deal with a situation once it is reality. Now the cash in the bank is a reality, and given that the money was only received a matter of days ago, why do you expect to hear anything on it immediately? This is the impatience. Who knows what is going on behind the scenes and what number of strategies are being worked on and looked at.
Would it make a difference really if the minor problems you speak of had been reported a month earlier? Would you have sold your shares? It would have no doubt been an ideal opportunity for even more negative speculation. If you don't like managements reporting I have nothing to debate with you friend, that's just how you feel about it. But there's no excuse for some of the things that have been said by some here, it only shows a reflection of the fear, anxiety, greed, ill intentions or whatever else.
Yes, these are the days of the internet, and it seems EVERYTHING is scrutinised and not all, but a lot of it is wasted energy. People are too quick to persecute others and only too happy to crucify them, especially from the other side of the computer screen. I ain't a Christian, but seems sadly at times not much has been learned from that light bringer that appeared 2000 years ago. So much preoccupation and judgements of whether what someone is doing is right or wrong.
"By their fruits Ye shall know them". Talk is cheap, so my opinion is, let management do their jobs, implement the best strategies around the opportunities and directions that are uniquely available to the company given their position and assets, so that when executed right, they produce the fruits that are going to be rewarding in the long run. When you think about it, you can see a lot of pieces to the puzzle that could have great potential, and management are facing what I believe is not an easy situation to deal with because compared with other miners, the options on the cards for Galaxy are many, and I am sure they don't want to stuff it up. As many wise people here have before said, "patience is key".
Before I depart, and I don't really care how this may sound to some, I would like to send appreciation to management for what has been achieved so far, and I look forward to where they can take this company. Finally, I wish to express gratitude to all the hard workers on the ground at Galaxy too, you are not invisible to us.
Best wishes to all.
GXY Price at posting:
$2.19 Sentiment: None Disclosure: Held
