RE:RE:RE:Good news! There goes the first All Group appointee.My metrics for evaluation of Eaton's performance and that also of O'Riley and Luciani are simple. Look at the share price today versus June 2012 when Eaton got in. Even though revenue has increased, profits have not. It is my belief that the Melba property was given away without any adequate compensation as to its value. Nordex could have gone onto the property and custom milled the approximately 2,000 tons of ore that is lying on the ground years ago. Do you see any progress what so ever from the company (Tellurion) that they gave it up to? They receive much better offers from other parties such as Benton Resources.
Its my opinion that Nordex has been very slow getting off the mark in selling the Johnex products. Someone needs to hold Taylor to task for not getting sales started in this area. I don't think either O'Riley or Luciani are strong enough personalities to effect changes.
Finally, but most importantly, we need a board which with a focus on the bottom line.
Why do we need Dean Stuart as an investment relations firm? Does he really serve any worthwhile purpose? Where for instance is the report on the sales of Johnex products? We shareholders have had one mention of a $750,000 contract almost one year ago, then a production update that it was producing 103 cases per eight hour shift. Has this production translated into sales, or not? If sales of Johnex are being made what are the numbers? Are they able to produce 120 cases per shift yet? Are they selling all that they can produce? Has Nordex commissioned a second, and third (fourth) shifts to meet demand? I have long complained about excessive legal costs. We need a board who can start shaving these needless expenses. Nordex has to focus on the bottom line.
When Jim Taylor gets new money he spends it as if more will continue to flow in. Issuing more and more shares below book value and below prior private placements is not a good answer to Nordex' problems, indeed it is a race to the bottom. Look at the profit margins generated by all the new sattelites. Would that money not have been better spent getting the Johnex line up and running if it is profitable?
The share price was over $1.00 six years ago. The board at that time issued shares at $0.65. The board previous to this one issued shares at $0.40 due to a desparate situation that had developed. The present board issued shares at $0.45 and now the share price is $0.39 and has been as low as $0.32 recently. All in all shareholders are not making progress.
We need a board which cares about shareholders. I for one am ready to see a change.
B&D