My understanding is that our major shareholder, who is also a director and the prime mover in the company, bought into AGS for the gold (Maldon). Later the board saw fit to hive off our gold and processing plant into ORS, which is now privately owned by Gandel Metals, while the gold and plant comprise an important part of AYC, of which Abbotsleigh/Gandel Metals is again a major shareholder.
AGS would have been better, in my view, to have followed Gandel Metals own private strategy (rights issue etc for very little cost), rather than wasting shareholders precious investment and exploration money on futile legals. .. So your suggestion, FO, that AGS should have divested itself of ORS and all we had spent on that development runs completely counter to IG's own private strategy. ... I also belueve that directors are much more careful and canny with their own money than they are with shareholders money. .. Sadly, unprofessionally and unethically so.
Just musing and regretting lost causes (in Kagoshima). .. I wonder what Gandel Metals would pay for AGS. Looks like we should keep a close eye on our WA tenements.
AGS Price at posting:
3.3¢ Sentiment: None Disclosure: Held
