It is too easy for shareholders to lay claim that the GFC, the price of gold and tough economic world markets are stifling gold and resource type shares. Those issues are certainly a reality but in my view there is a real need for Directors of companies to be held accountable for their management decisions. The regulatory bodies that are supposed to keep an eye on companies and management/directors is, in my view, totally inadequate and relies on shareholders voting at AGM's and self regulation to ensure that the company is being operated in the best interest of the shareholders and according to law.
Too often Directors make unbelievable decisions which so adversely affect the viability of the company they are managing and yet they continue doing what they do, being paid salaries well above the normal, and collect bonuses including travel, shares/options, etc., which can be influenced to suit their own benefit with the inside information they have of the company and industry they are in.
It would be nice if the small shareholders were looked after by the regulatory bodies instead of waiting for a politically sanctioned intervention being undertaken usually concerning only the big end companies. The smaller companies fall though the net and the small shareholders lose.
Back to ABU.....stop the buggerising around and get to the actual mining and production. I am sick of being told about our potential. Directors are getting paid big bucks......the problem is that it doesn't matter if they are making the shareholders any profit.....as long as there is sufficient money to pay them (the directors and management) and keep them for years in the lifestyle that can manage/manipulate for themselves.
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