All things APG

[Messenger]

All of this surfaces a week after David Boydell steps down from APG. I've yet to see any explanations as to how Tim McLean was able to book-up so many yearlings without a line of credit. I suppose this will be revealed in court. How he was allowed to bid is something APG would like to keep unknown to save face with vendors. If you were to join the dots you might only need a bloody big pencil - and two dots.

And here is another $130k default purchase of McLean's. The accompanying fairy tale is a bonus from APG as a sweetener, but only for cash buyers.

https://www.harness.org.au/media-roo...?news_id=52957

A reader has told me he wrote to David Boydell asking, among other things, why as of March this year, the Financial Statements & Reports for Year Ended 30/6/2021 had not been lodged with Australian Securities & Investment Commission as is required by law.
The reader asks when will the Directors of Australian Pacing Gold Limited recognize the value in adopting a policy of transparency in regard to Financial Statements & Reports as this is a cornerstone of a respected and successful business
The reader finds it difficult to comprehend why industry participants have to pay a Government authority to obtain information as to how well APG Directors and Management perform their duties and deliver acceptable business
outcomes

[Showgrounds]

"Acceptable business outcomes" - the core of this debacle. Who actually owns APG these days? I see Club Menangle's chairman Robert Marshall is stated on the Club's website as Chairman of APG. I see the registered office of APG changed from Queensland to Menangle Park in October 2020. The big question remains as to why it has taken over two years for the bs story of the unpaid purchases to sneek into the public domain. It appears no disclosure from the company has been made public, or any clue as to how the affected vendors were compensated for there losses.

The only certainties are the directors were asleep at the wheel to have allowed this to have occurred and to have dragged on for as long as it has. The ultimate damage the company suffers will be measured by the loss of trust and support from breeders and vendors.

[Messenger]

I think this link is where you will be able to keep up with the 3 day duration Online Auction which commences at 2pm tomorrow/Wednesday

https://www.ardex.com.au/apgonlineau...ction=viewsale

[Messenger]

So far one of the lots which was originally sold for only $16k (that is if they had paid up) has the highest bid at $6k
It will be like ebay and all the bids will come in the last half hour

[Messenger]

Lot 4 now has a bid of $20k and there are 4 lots with bids over $10k

https://www.ardex.com.au/apgonlineau...ction=viewsale

[Messenger]

My favourite Lot2, the Bettor's filly closely related to Lazarus is up to $32k

[Messenger]

Lot 2 up to $40k now and Lot 9 has surpassed the sale price that fell through - amazing when he has missed his 2yo season and will be hard pushed to have any 3yo season

[Messenger]

With 30mins to got in the 2days plus auction
Lot 1 trotter had a bid of $20k, he ended up going for $50k after several 5min extensions which were the rules of the auction
Here is the complete results
Red is what they 'supposedly' sold for the first time
Green is what they got in todays online auction

[Messenger]

I am still not sure how the top priced colt got in this sale, he is actually already a 4yo that I cannot find in any APG catalogue (the other offering were 3yo's), he was bred by B. Dumnesy - a relie of John?

[Showgrounds]

It seems APG, once seen as the goose that laid the golden egg, is now looking like it lays dodo eggs. It has announced there will be no Sydney or Melbourne yearling sales in 2023. It will hold sales in Brisbane and Perth but major vendors have made "purely business decisions" and have taken there business elsewhere.

Nutrien wins, I gather.