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any news on the mining rights

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DR_1
Super Contributor
seems very quiet on any progress. am pretty pissed of as they not making any statements on whether they are applying, been granted any interdicts or in discussions with govt. what kind of company is this, have my money, share price dropped, dont want to sell and take losses as an investor. they treat their shareholders very shoddy. Hope the CEO gets FIRED
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7 REPLIES 7
SimonPB
Valued Contributor
why do you want to own a company in which you think the board is useless and the CEO should be fired ??
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Werner_1
Super Contributor
exactly, Simon is right, all the companies i invested in i really trust the management... i actually sold off a few companies over the years just because i didnt like management too much... What i do sometimes is send the companies i have shares in emails to see how they respond to shareholders, i have to admit i had mixed results over the years, but the 3 companies that really stuck out as being excellent are, Grindrod: i even got a golf shirt from them for free, many interesting discussions with their IR department; SBK: The lady i emailed from IR department was so helpful she said if i wanted to learn more about details she could organise a telephonic call to a director if i liked, i didnt need this though, but the fact that they offered was unbelievably kind in my opinion and i love this company for that fact; JPMorgan (USA): This company has some unbelievable people in it, i have never sent them an email without getting a very usefull response, even from thie highest level, these guys are really amazing when it comes to answering to investors, even about products and services, i have never found a more helpful company i was in contact with... this is a requirement for any company i invest in... I only want to be associated to excellent companies that make me happy and executives i trust 100%, because the future of the company is out of my control (unless i buy a huge amount of shares and change the way they work - like Carl Ichan) and up to these guys to make it work, so find the best Jockey!
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Werner_1
Super Contributor
Here is an article - http://www.fin24.com/articles/default/display_article.aspx?Channel=News_Home&ArticleId=1518-1786_257... - i havent read it all, but it sounds as if ACL looses its mining rights on Sishen...
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DR_1
Super Contributor
problem is as an investor with a longer term horizon am R500K down, dont want to take such a huge loss, but it looks like may have to
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SimonPB
Valued Contributor
DR .. the current size of the loss is not important .. the Q is if the loss is likely to get bigger or smaller ?? An if management dodegy, then the odds are surely that it'll get bigger ?? forget about the loss and focus on future profits and ask if ACL is the place you'd put money now if you were looking for a new investment ??
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WR
Regular Contributor
simon, today probably not. Would mostl ikely wait for some conclusions on the feedstock supply. so its a catch 22. If they have some certainity, stocks can be re evaluated. On the surface, they will have to get the feed back at a reduced price as SIO cannot export the full quota that they took. Also, if the feedstock not resolved, they should change the pricing model from export to import parity as their feed stock is based on that principle. Any wisdom from your side on this share
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SimonPB
Valued Contributor
fair comment .. an no I know nothing. cept as an outsider I don't like management ..
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