Ploughing through VOG Preliminary gobbledegook....... Cash $6.0 m .... Market unimpressed. The market is expert at doing its sums. They know how much cash is income, and how much is expenditure. Any primary school child could do the Maths which is a simple "take away" sum. This is what roils the Market. Chairman Foo is still lost deep in the woods. Unless he bends to investors concerns, he will be lost in space.
Duffer is one of the enlightened few, with his head firmly screwed on and has the gift of insight. Investors would be foolish to ignore his words of wisdom. I sold my entire holding in VOG over 2 weeks and followed in the footsteps of that wily old sage, George Soros. Here we have Mr Gekko personified. He recently bought a 1.7% stake in Barrick Gold, the world's largest gold miner, anticipating market turmoil. I decided I couldn't sit around whilst chairman Foo squeezes the life out of VOG, to his own advantage. If you choose to stay, you may have to fasten your seatbelt extra tight. In any case, good luck to you all!
Can anyone explain why VOG which is making money hand over fist selling gas, has a share price curve trending downwards? Where has all the money gone, long time passing?...When will they (investors) ever learn?.....Gone to Foo ('s spending projects), every dime!..
Chairman Foo's tenure at VOG has had its day. Chairman Foo has had his chance to take VOG to the stars and back. But each time he has decided to go on a spending spree. He is not in tune with the needs of investors, and if we let him have his way, he will bankrupt VOG. If VOG is to have a future, this man must go. And so must members of the Board who dance his tune. We need an extraordinary meeting where shareholders can cast their vote of confidence or otherwise. A personally less painful option would be a hostile takeover, where the whole infrastructure is given a good spring clean and the present hierarchy is excised. Investors need to listen to the market -- not the ifs, buts and maybes of a reckless soothsayer.
Apparently scholarly articles on VOG do not stand up to scrutiny by the market. Someone has got it wrong. And it is rarely the market. Even a Primary School child will tell you if you keep spending the piggy bank will soon be empty. Yet the hierarchy at VOG seem to think otherwise. Should shareholders allow them to risk our money? Should shareholders allow this crew to define strategic policy at AGMs? Why is the SP of VOG plagued with rigor mortice? Investors need to think for themselves and not succumb to ruses based on technical jargon and wild extrapolations. If VOG or Chairman Foo had to go, I know, to be sure, which to keep.
After all the song and dance over the recent VOG Presentation in London, VOG performed a cartwheel and fell flat on its face. The same happened to the SP. Forward looking news means nothing if you are leaking cash! VOG is stuck in the mud and the tide is coming in fast.
Melorosian, I thought you might be representing the Board of VOG, and delivering a cannonade to ward off prying investors. This could well be the sort of nonsense VOG might publish. But it does not wash with me. If the plan is not simple and investor friendly, investors would do well to bale out, whilst they still have a parachute. For VOG, it's earned cash in the bank or nothing.
MetalMuppet, please see Duffer's report regarding last Saturday's presentation of VOG. Here you see through a window, without the window dressing. You are probably another bona fide investor who is licking his wounds. But I could not help but notice the uncertainties which plagued your report. Words like "seems," "highly likely," "should be," can be a death knell for junior companies. They send a shiver down my spine. Chairman Foo is playing roulette with our money!
I was too busy getting my hair done on Saturday to attend what our man on the ground "Duffer" has so succinctly summarised as "jam for tomorrow.....for the benefit of the gullible." Not good enough Mr Foo. Your shareholders are fed up being led astray, the company's assets being wasted and VOG being plunged headlong into debt. In any other company, shareholders would demand a cull of those at the top. We need a change of leadership. Do other shareholders feel the same, and how do we call an extraordinary meeting to put this into effect? VOG investors should be rich now, not counting their losses. No excuses!
The tin can labelled "VOG -- It's good for you" can be tarted up as much as you like during this Saturday's presentation, but scratch the can with your nails, and you see it is full of holes. These holes are leaking cash, and at an alarming rate. VOG investors don't need another presentation. If the company is sound, it will be reflected in the SP. It will be the market that will herald a turnaround in the fortunes of VOG -- not Chairman Foo. If Chairman Foo continues risking the finances of VOG on drilling and exploration, I think investors should really be thinking about some new faces at the top. It would be a great tragedy if investors allowed their company to be bled to death.