Originally posted by rocket973
A Class Action is a waste of time. NSL shareholders are to blame for allowing incompetent fools to run the company and also being so foolish as not to question management. I'd been saying it stank for a long time and every NSL/IOR shareholder abused me for pointing out the lack of factual information being supplied in the Quarterly Reports.
How many of you questioned management? You all relied on the BS from Timmy boys posts.
Talk about a bunch of novices.
Its very possible that the new CEO will bring a good project along. I hope for your sake that he does.
At least the new CEO has the guts to shut down this fiasco. What it also proves as I said many times, do not rely on the fact that an institutional investor like First Samuel throws their money in.
Frankly, I think you should all be grateful that the pin has been pulled. NOW there is a chance/opportunity to get another project underway.
As I said so many times turning 30% crap into 58% garbage is not a smart thing to do.
At least the new CEO understands this. IOR would be better to employ at top rated geologist and do some investigation in Myanmar, Laos or Cambodia. I guess most of you haven't been there but this is the place for new discoveries. Laos was the place that OZ Minerals made its name when involved in Cu production at the Sepon Copper Mine, but lost the lot when the CBA bank made them sell the mines to the Chinese.
At least IOR now has the opportunity to move forward.
While I cannot disagree with your sentiments Rocket many (including myself) do not have the time or expertise that you have.
Instead we rely on the ASX announcements produced by the directors. Many have expressed their doubts on a class action against the company. as this would get nowhere/. Rather, I suggest a class action against ASIC, the government organisation that we pay taxes to to dthere job and have seemingly failed. In my case more than once.
