RE: Profitability27 Jan 2023 22:25
I am genuinely sorry to hear that chique. Your postings over the past year have always been thoughtful and interesting. I am, like yourself, pleased with the company's sales progress over the past two years but frustrated with Brian's strategy to grow the company. The Miriri phosphate project was terminated after due diligence, the due diligence being done after the purchase. Is that good business practice ? We then come to the Limestone project which was RNS'd in June 2021 - eighteen months ago! The following sentence was the concluding sentence in Brian's statement in that RNS .
" This is a great opportunity with the potential to add accretive value to our shareholders beyond our already well-established platform and I look forward to updating the market further in due course."
It often feels like heresy to criticize the board here, but the above actions will not attract corporate investment and will continue to depress the share price from its true value. I really don't care if I'm perceived as a shorter. Having held for six years and accumulated 2.4 million shares out of my own money, I feel I have the right to post my views. I do think there will be a dividend this year, but to be honest I would be happy to see the company bought out, and even then I think the maximum realistic take out price would be 26p (about £50m)
So, there you have it. I shan't be asking questions next week as the obvious one above will not be answered. I will, however, continue to enjoy chique's, swingy's, f15jcm's, gotabeserious' and name mikes impartial posts. Have a good weekend everyone.