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clock Created with Sketch. 07/08/14
12:13
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Originally posted by willial
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Many long termers like myself remember NDO in the 30`s and higher. Then poor judgment by management or poor drilling luck or both led to a long decline where management promised much at annual meetings, delivered little and walked away with swags of options and performance rights . Capital raisings an dilutions followed and many faithful or deluded faithful saw their dollars disappear. With Galoc and extension stabilized and producing well their at last appeared considerable upside from 4cents and a chance to recover some finances. In the last year management were granted performance rights which had the potential to make them multi millionaires.
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I am not sticking up for directors.But the performance rights etc were all passed at the AGM.The shareholders did not object.That is why they get away with so much,shareholders just dont seem to keep an eye on what is being proposed at AGM's.I would love to see more small cap directors held accountable for their greed.Have a look at nxs and gxn threads,the shareholders have taken legal action!
