The whole thing goes from untidy to unruly to shabby to highly, highly irregular....
The lack of disclosure to most shareholders (no doubt the majors guys are well in the loop) is disgraceful and quite unprecedented in my 25 years of working and investing in and around this space....
They've certainly taken smoke and mirrors to a new level!
Are they obliged to release a quarterly by 31/10?
My fundamental issue operationally was why was so much money spent on capital works e.g. major tailings dam upgrades, improvements and equipment in the last 12 months or so (that shotcreter buy was a shocker) at a time when (on what little we have been told) they simply couldn't pay their bills....albeit told belatedly.
How is that not insolvent trading by any reasonable definition?
How could we be told that a CR (an earlier one) was undertaken to generate funds or part thereof to pay for the convertible note expiry - and then clearly wasn't....
Why weren't funds set aside every quarter to help pay for the con notes rather than being spent on capital items?
And I note they're still hiring....
All in all, a major dog's breakfast but the respect shown to small shareholders is simply absent.
