APG 0.00% 0.3¢ austpac resources nl

Management AGM MT stay or go, page-30

  1. 245 Posts.
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    Hi  Sagittarius
    With respect.
    In Dec 2013 APG announced that Bluescope had agreed to do a bulk trial of the samples APG would supply.
    You said at the time;
    "IMHO there is much more to the new Blue Scope deal than stated...happy to give this one some time...."
    He we are now 5 years later with zero to show from this announcement. How much time are we to give this one, another 5 years?
    Now you say " I prefer to ride it out a bit longer."  How much longer?
    As an investor, from my perspective;
    I don't even know if there is any deal brewing, the scuttlebutt is Bluescope again, yet we are no better than Dec 2013 as we still cant supply samples, so IF it is Bluescope THEN is must be a different deal to then and that is if,  there is actually anything happening at all.
    I invested $130,000 a couple of years ago (professional investor) on the back of that something was brewing with an agreement in Asia to do with the Synrutile business. Remember,the board member on holidays one.
    That investment is now worth $13,000.
    Share price as low as it can go.
    Annual financials disgraceful.
    Absolute concern about how long before the company is insolvent.
    No cash.Chairman has to chip in 200k to probably keep auditors happy.
    Promises made last AGM not kept regarding MT 's retirement.
    I asked at the AGM for a timeline and was given one.Not even close!
    Bergen disaster.Did the board even do any research on them before that deal.10 minutes on google and you would of been running in the other direction.Or did they know but didn't care.
    It annoys the hell out of me that I have supported APG through more than one capital raising, most if not all of the time at a higher share price than the market, yet Bergen comes in and gets free shares, a discount on their conversions and screws the share price. They were never in it for the long term, they hadn't supported APG for years yet they get that deal.
    AGM on at 4.30pm in the afternoon, what a joke!I know their thinking.This year shareholders will be heard! The old "ok, why dont we have drinks and you can ask any questions there" routine is not on this year.Its the old , divide and conquer routine.I want to hear ALL the questions and the responses, not have to walk around to each little group and listen in.
    I have been a long ( not as long as some)  and loyal supporter of the company for many years both financially and on Hot Copper, but I'm just not prepared to go one more AGM without change.Either they make the changes or the shareholders will.
    I have been reviewing section 203 D of the Corporations Act in the last few days.
    Sagittarius, you must be the most patient man on earth. As someone who's  name is above MT on the top 20 shareholders list, I would suggest I have more skin in the game than you. I can only see things from my perspective which are announcements (financials etc) , share price results, broken time lines, broken understandings,pending agreements that fade away, with no follow up announcements, etc etc etc.You sound like you may be more "in the know" than me and possibly if I was "in the know" my perspective may be different, who knows.
    Kind regards Sagittarius
    Cozzie
 
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