It appears that the main focus of this appointment of CFO is to secure new funding hence why they highlighted that angle in the the announcement. A new MD and a new CFO might have better luck in securing new funding although a lot of damage has been done by their predecessors they will have to sell the project in a different way for it to succeed.
If they secure capital funding it will likely come at a dilutive cost to current shareholders. I guess a bit of dilution is better than them folding although it will limit the potential upside if they go down this path. It likely explains the retreat in shareprice after going up 100% as there is still risk here. Either way current holders are caught in this mess. Although for people thinking about new investing it might just pay off building a stake at these levels if funding comes good.
OEX Price at posting:
1.3¢ Sentiment: None Disclosure: Held
