company update - it's starting, page-8

A bit optimistic Clacoste. There's not much new here. The usual mia culpa. Then the redundancies. Good in that it cuts costs and hopefully one of them is Broad, but possible negative if it cuts into their ability to deliver contracts. Then the bombshell at the end. After all the stuff about realsing the error of their ways and focusing their business on the first two dot points they then add in "mining" and that they are planning to acquire several leases overseas. WTF? First of all what with? I thought they were cash strapped or at least cash flow negative. Speculative mining leases don't seem a good bet in those circumstances. They're supposed to sell their services to the mugs that buy those things, not be one of the mugs. Overseas as well, so how much sovereign risk will they expose themselves to? Cut the mining leases which will just be a distraction and focus on the first two points which are the core business and have the best chance of generating positive cash flow. No wonder the market went "Urrr".