nickel price how far to go, page-66

dIGERS AND DRILLERS HAD AN INTERSTING STRORY ABOUT A STOCK WHICH HAD PLUMMETED FROM $6 TO $2.50

In our world that is 60c to 2.5 c.....hmmmmm we are nearly there

anyway, it was a turnaround story... what they did was....

----"Simplified Corp structure
-----sacked staff/ contractors
----- raised equity from shareholders/and a big private investor - who turned out to be Buffett
-----consolidated offices.
-----reduce fixed cost base
-----Froze management team salaries at 2011 levels and ---------offered no short term incentives

Then they concentrated on rebuilding the company....by adding several strings to the companies offerings... "

AS I HAVE SAID BEFORE .....THAT AFTER 20 PLUS YEARS IT IS A JOKE AND A CATASTROPHE THAT WE ARE ALL , AGAIN, SWEATING ON EXPLORATION RESULTS

this COMPANY WAS AWAY WHEN CASH FLOWS STARTED.... then the MD of the time stuffed up a second customer, who walked away. that's when the stock collapsed from 70c to 40 c over a few weeks....

NOW we have a falling IO price, a mine that has its life shortened....staff have been on FAT salaries by comparison to our investment vaporizing.

Its time to CULL.... staff from the top down, close offices,
there will be very little money left soon... and then we raise cash via a SPP at 3 cents... God help us all

lETS pray that MMG come up with the goods

I have no confidence in management being able to turn this ship around.... they were ... and whats left ... ARE too long in the IMX saddle which at $400,000 PA must feel mighty comfy... whether you get results or NOT ( and indeed the results they have achieved is crushing the share price 90% over a 3 year period !

ITS TIME FOR A CHANGE