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clock Created with Sketch. 25/03/18
21:08
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Originally posted by bluebottle18
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I have been attending S/h`s meetings for the last 30 years and have spoken to so many directors in that time. Many of these Directors were well known in their industry...... In that time I never met one director who was not genuine and confident about the future of the company....Even though the company had an atrocious record of failure.... I remember chatting to one board of directors who were at the top of the list regarding respect + credibility who had a large low grade gold resource..... They all had invested heavily in the company ..... It is now delisted... Bankrupt. ....... I also attended another meeting where after listening and witnessing his behaviour rung my broker to sell the shares while the meeting was still going. The company was bankrupt six weeks later and the MD fled the country to the West Indies.The ASX has a large graveyard of fallen companies where the Directors had put their own money into it ..... What causes their failure is they do not have the business skill to manage the company..... A very smart geoligist , top in his field finds himself out of his depth as chairman of company. As are many accountants and lawyers.
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Dont forget the cyclone set things back a bit...you cant plan for that, and its a legit excuse for a delay.
