Huge Thank You to Paul Dostal and Graham Dow for their initiative in not only kicking off The Metallica Minerals Shareholders Action Group but funding it as well. Obviously men who like to do things properly and they didn"t wilt when the shareholder funded opposition used their disruptive tactics. The Metallica board came undone with 3 stupid mistakes.. firstly not listening to Paul and Graham's initial objections regarding the proposed Melior takeover.. secondly proceeding with the takeover and lastly underestimating the tenacity, integrity and intelligence of their opposition. Thats excluding the other stupid mistakes.. SCONI etc etc Their battle strategy against MLM shows that even against the odds shareholders do have some clout and should be used as a template for other shareholder action groups. Although its been costly I believe MLM are now in a much stronger position than before the Melior announcement and look forward to some forensic research into the haul road saga. Mostly I'm looking forward to an increase in the share price.
MLM Price at posting:
3.0¢ Sentiment: Hold Disclosure: Held