baloney! rights issue was at 6c, this is pathetic perfomance TK...yes we know your posting alias.
How about get some news, udpate the market constantly, get some PR going.... go look at how CVI did their pr...or MPO for that fact when they were going up.
has NEO ever gone up after a capital raising? or just halved or more every time.....confidence in management = 0
NEO is embaressing. Who cares if it has great land acrerages...they cost money to develop, nothing is happeneing and if it is NEO isn't updating shareholders. so my view is why bother to hold when you don't know what's hapening- and that is exactly how the market thinks and is reflected in the share price??
until either
1. Neo MD deleivers on something or more improtantly stops wasting money on more land acreages- sells some of them, get's some cash on baord and develops a few wells so it gets some operational casfhlow- gee how hard is it to do this strategy????
2. Neo MD moves away and someone with skill comes on board that understands you need a few small wins first, big winners come off 1 in 10,000 so why waste the company on it.
3. Neo MD by a miracle learns what shareholders are and starts to give regular market updates and tell us what is happening constantly. Who cares if it is sensitive news or not, we just want to know that Anthony Kain the MD of NEO is not in las vegas gambling the money of the company and is actually managing people that are doing work and prgressing the projects.
I have shares, my freinds have shares and this is the WORST share of our portfolio...sigh it's always management that either fails or delviers, I still hang onto the hope or maybe it's just a dream that a new MD will come along and pick this company off the ground and put her where it should be.
All NEO needs is a change of mgt to focus on the smaller projects and short term casfhlow, that will reduce this constant need to raise capital, dilute and of course it proves NEO can develop a well, becuase right now even a big drilling success means with the lack of skill NEO mgt have it will be a failure anyway...
I vote:
1. New MD
2. Sell down acerage to gain working captial
2. Focus on operating cashflow and focus on a few projects not scattergun effect.
4. set a target for NEO to acheive that is realistic- eg growth of operations- revenue for x EPS per share by FY2009
forget the asset portfolio value-
NEO
nuenco nl
