Excellent post Highside. I feel we're currently a 200/1 outsider in the Grand National just about to fall at the 1st fence. Its now a high risk punt and nothing else. I followed many stocks nearing cash shell and RTO and this has all the markings.
Bricks, hope your Christmas was ok and understand you getting out. I’ve kept off the board for a week as I wanted to have a good Christmas with family and block this disaster out. The reality is that this BOD promises and never delivers. No news on the promised renumeration structure. The simple truth money will burn and we will be a shell company by May. I’m risking it and holding and hoping the hype of RTO will increase the SP to a level that minimises my losses.
Happy New Year all. Wish you all good health.
Hey scheds no posts since 29th. Bricks been a while too. Not asking for views and updates just reaching out to see if you both well? A quick reply of yup will suffice just want to check my fellow comrades are well.
Lol Teaye. I still have a diesel as backup. On a serious note and having had time to reflect, I do see Bennelong as a positive move. General Partners GPs survive on the track record of their fund performances. They hate failure as it reflects badly on them and also their ability to attract investors into their funds. It does mean now there's nowhere for LR to hide and he needs to deliver.
To expand on below Bennelong GP's will be managing numerous funds and one or more of those funds have now directly invested in EUZ. It's an alternative way of raising funds away from the public market. They won't be providing advice on how to run your company or how to broker a JV/Sale. LR and the BOD still have to do all those things. Personally I think it's a good move as the BOD will have to answer to Bennelong whereas us as LTH he doesn't.
There seems to be some confusion here on what Bennelong do. They're a private equity company consisting of GP's and LP's and they don't provide advise on how to run your business. They provide us funds expecting a return on their investment. Comments such as "Game Changer" are very misleading. You could state a case for maybe "Our Saviour" as they are backing us with much needed funds.
Nuumptypi, totally agree that ship has sailed and voter apathy didn't help. Don't understand littleathenal argument of the broker wouldn't let me and seems more of an excuse. To me, existing holder who didn't push their vote through loses their right to moan and complain about the CEO and BOD. As you stated we have no choice but to suck it up and park it as LR is in the chair for another 12 months now (that's if we survive that long).
Your statement on putting off new investors, not one poster can do that but what the tumble weed on posts and trades tells us that LTH have given up and mothballed the stock and new investors don't seem to be hitting the buy button and contributing to the BB.
LR is under pressure now and our intuitional investors will be watching closely I hope. It's very obviously based on the data we see no PI's are jumping onto this stock. Have a look on Stockopedia the status of "Sucker Stock" kinda sums it up. New PI's are simply staying well clear and it's backing LR into a corner.
Wow I know I said last week that we will go into 2022 with single digit trades and posts but seems to have happened already. Not one post yesterday, that must be a first for this BB. Anyway looks like our screaming and shouting for an update on strategy and remuneration of the BOD has been put on the back burner whilst they spend all day tweeting about Zinc and Ironbark.
Come on LR you may have shafted us LTH but what about the new investors you need to replace us. Time is ticking and the SP is dropping.
Bricks, Highside, Moneymaker, Cjen,
you guys in particular understand my concerns on cashflow and that having the best asset in the world doesn't count for "Diddly Squat" if you don't have the capital and business acumen to turn it into reality.
I've witnessed it many times when companies are on a knife edge and the vultures are circling to snap them up on the cheap. The last month or so has proven that this BOD don't listen to retail investors because they don't need to at the moment. However I do see a day fast approaching when the intuitional investors will walk and LR will be wondering where have those loyal LTH gone.
My focus is now elsewhere and TBH not wasting anymore energy on EUZ until I see some communications on below from the 18th November RNS:
"We are also undertaking a full review of the Group's cost base, including board level remuneration packages, and establishing a clear strategic pathway through the remainder of 2021/2022 to refocus our efforts on delivering value for shareholders. "
Will we here anything on the above promise? lets wait and see but I'm not holding my breath.