not sure, but it seems he is also resigning as director in...

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SteveSage

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08/06/21

12:09

Post #: 53713199
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Originally posted by ldkennelly: ↑

Does anyone have any insight as to why the CEO departed? If a deal is close or looking likely it seems odd that he would choose to depart, and if it wasn't his choice why was he given his marching orders? Just curious.

Based on the current balance sheet and cash burn which is difficult to get a grasp on with the loss making Aus business now gone, how long do we think we have to execute a deal assuming no saviour comes forward to extend the timeline?

If the worst came to the worst a firesale of the land would surely still produce a return, albeit much lower than what we'd hope. I am probably missing something in making this statement..?

I made an initial purchase yesterday at 1.0c based on the asymmetric opportunity payoff opportunity that seems to exist based on the potential value of fully developing the land. Hopefully a deal can get done.

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not sure, but it seems he is also resigning as director in Eumundi on the basis of increase workload with personal & business interests

with Peter Jones also stepping down (for medical reasons), the 2 significant shareholders are no longer on the board/mgmt .....not quite sure what to make of it.

It does seem like Craig Dawson the former CFO may have pushed through the sale of SITE Australia, and he seems to have decent experience, but not sure how you manage a sale in a location where people can't get to

IMO the business needs to survive another 9-12 mths before things are going to stabilise.....in the interim, perhaps they just take a knockdown value on Clark....I have no idea what the value would be, but I'm reasonably sure enough to pay off any debt and more than the 8m MC would suggest.....the risk is it could all go belly up in the interim

SIT Price at posting: 1.0¢ Sentiment: None Disclosure: Held
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0 Great analysis

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