We have gone from an ATH of 31c in Mid Sept, to 27c on the 25/9 when the (Unwanted and Not Needed) 26c CR was announced. Great job!
Since then we have seen constant selling downwards and manipulation, down to 18c PRIOR TO THE WAR STARTING ON THE 28/2/26
The EM was held on the 9/3/26, with only 13% voting, and low and behold, EEA's and Afrilands 26c share approval resolutions, were somehow voted down when the SP was 18c. How? There's only 1 SH I know of with that kind of amount of shares that appears (On face value), aligned with EEA. (The vote was after they had received the independent report completed which stated it was not fair for SH, but reasonable considering the recent trading down to 18c, trading 50% lower than where we were prior to the TH).
It was a diabolical call that this 26c CR was proposed by EEA, Robbie, Cannacord and the board, when we were on an upward projectory and trading in the 29-31c range, AND FULLY FUNDED TO THE END OF STAGE 1!!!What an absolute F UP!!!
BTW, I voted FOR the 26c cent CR as I wanted to see EEA and Afrilands pay up and fix the mess they had created. IMO opinion if they had paid up, they would not have wanted to see this manipulation continue and would have fixed it. IMO this vote down was deliberate. Take from that what you will.
Word on the street, there was a fall out with some of the heavy hitters that participated in the CR (Organised by Cannacord and our Corporate Advisor Sternship) and some started selling the SP down after paying up, due to the "Unknown" election. Really??? Sophisticated Investors or Incompetence? Who would invest millions of $$$ and not do their D/D?
What's happened since? (Let me clear my throat a few times whilst I explain).
Well Timelines have slipped.
Rail delivery has blown out by up to 6 months (It was over an optimistic timeline anyways).
BIYA gets re-elected.
Increase in Camrail still unresolved.
Offtakes talks still ongoing.
No mention of the permits being issued for our sister assets in the 2 latest updates. Infact their not even mentioned! WTF?
And our SP is down over 57% as I write this post from the ATH mid September PRIOR to Ann this CR.
YET, Hohnen and the board will publicly state how good a job the board and SECKER are doing. Are you F'ing serious??? REALLY???
At a time when were about to start production???
Oh hang on lets blame the war and the micro environment. Dude, we had already lost 50% of the Market cap PRIOR to the war starting.
It's time this board, starts to deliver SHAREHOLDER VALUE and listen to shareholders.
It's time to sort this mess out once and for all.
And please for the love of god, have our CFO Mr Mtsambiya do all public speaking on behalf of the Co from now on. He speaks, confidently, clearly and concisely as seen in this video released last week. https://cdn.sanity.io/files/fetgyu5y/production/63d91abe589aeb5d24d8639ff812cba64abf6d63.mp4
That is all for now. Hohnen, get with the program. Shareholders are NOT HAPPY, contrary to what you guys are posting!
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