I don’t think I’ve ever seen someone more positive in the face of overwhelming adversity than you tj. It borders on dillusion. You’ve seen the quality of management (any problem that could conceivably be encountered they have achieved). You’ve seen the complete lack of interest in literally anyone investing further in these assets, this includes the project partner (who opted out of paying), your illustrious leader (who won’t put virtually any of his own money in to progress this) and shareholders (who pretty much all passed up the rights issue). Nobody believes the current management with the current assets makes a worthwhile investment. The only people who appeared to be interested were the drillers who took a royalty interest instead of being paid... but that was because they hadn’t been paid and almost certainly would have been told that if they push the issue they will fold the company. No other reason they would do it.
The company is not only in a precarious situation, it’s almost in an untenable one. Your fearless leader won’t pull a rabbit out of the hat in my view... he will self protect and give away almost the entire project for a pittance free ride (and negotiate sort out some sort of hidden “bonus” for himself on his own shares with the buyer). This guy is not going to look after you. His latest words say it all... he doesn’t genuinely accept responsibility for any of this. Awful awful awful leadership.
PRL Price at posting:
0.3¢ Sentiment: Sell Disclosure: Not Held
