This quote dumbfounds me from the change in board announcement.
"The Board wishes to thank Messrs Matthew Wood, Brian McMaster and Nick von Schirnding for their significant contribution to CJC."
Enlighten me. What did they do?
To me after changing name:
1) They consolidated shares to 1:20 when share price was stuck at 0.001, to then see the share price plummet a further 75% to now 0.005.
2) They divested all assets in Mongolia for little return.
3) When majority of assets were gone and debt to internal or related creditors increased, they jumped ship.
As a long term holder, I don't know what to think.
Can this new board turn things around? Do they care about the shareholders? What would they be working on?
Fact is they need money to pay their debt. Only way to get money is to raise capital. Only way to do this is to source an asset that is worth investing in. Gold, silver, graphite, lithium are a few examples.
With all existing shareholders burnt, stung and bleeding, they can only source funds externally.
Still could be light years before achieving anything unless they can jump on to an existing project or merge with another company or acquire something that is already advanced.
All ideas. Just no idea how much longer we need to wait or if it is actually worth the wait.
Investing heavily before consolidation killed me, then joining in the capital raise at 1 cent burnt me and even acquiring more shares after the capital raising has stung me, as everything is still on a loss.
Bad investment? Or a poorly timed investment? Time will tell.
Do former directors keep their shares? What happens to their performance shares?
VAL Price at posting:
0.5¢ Sentiment: Hold Disclosure: Held
