VIC 25.0% 0.3¢ victory mines limited

Ann: Response to ASX Query, page-50

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  1. 6,805 Posts.
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    Well the modus operandi (hmmmm that is a phrase often associated with criminals oddly enough). Anyway the modus operandi involved with these managers is to get hold of a company or set one up and then treat it like a dairy cow. Milk it for all its worth. Put it out on pastures new and go through the whole process again. The ordinary shareholders are never told anything substantial. If attempts are made to seek answers from management or the company they are ignored or not responded to or else they are fed BS. Invariably administrative expenses are disproportionately higher than any money supposedly expended on testing the latest "project". There is never any real progress.

    Sometimes there are cozy dealings that are not in the best interests of the ordinary shareholder. Take that business when VIC was supposedly going to get involved with Milestone Sports with the fancy running shoes. Then it made a loan from VIC's precious funds to Milestone and then a few months down the track decided to be generous and halve the amount of money which Milestone would have to pay back. Eventually even that amount was reduced again substantially in a final settlement. I wonder who really benefited from that "loan".

    Management has never shown any great concern about caring for the ordinary shareholders. They are just the mugs who cough up and keep the company afloat in the vain hope that somehow the company is going to deliver more than spilt milk. All in my humble opinion

 
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Currently unlisted public company.

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