Originally Posted by
Balance
Seriously, Digger - do you not get tired going to these briefings and AGMs, and listen to the same tripe year after year?
I will not take excerpts from these briefings and AGMs but every year was going to be the best yet.
I vividly remember one shareholder excitedly reporting back from one meeting that he was personally assured there was not going to be any more capital raising for Pike River - 5 months before the mine blew up. We now know NZOG was in the process of organizing yet another capital raise for Pike then!
I prefer to let the track record of the company and its management speak for itself - dud investments, dry holes, squandering shareholders' wealth and as of today, market cap is less than the funds raised by NZOG from shareholders over the last decade!
Best example is of course 'PPP'. Distribute it, buy it back when there were plenty of other assets to buy and watch the wealth dissipate.