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DarkLordStoaty

1,980 Posts.

469

29/03/19

08:30

Post #: 37922733
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Originally posted by phuket guy ↑

Gertom, I also agree with you. But how much for the Gheko block AUD 500,000 at 1.5 cents a share. and tightens the company up and takes off the selling overhang its put on the market. also if they throw it out all over its just gonna come back in our faces on the way north again. Down here is a time to consolidate.

and remember for every share bought back and extinguished down here one more can be issued for more new cash higher up (hopefully) later without diluting the company later.

it will force them to tighten their belts further.

But on your main point I absolutely agree they should be cutting cost right back to a minimum now. Indeed A few days ago I asked the directors in writing for them to release some guidence on that - a projected indicated budget for the rest of the year on -go slow - no drilling basis showing whose actually receiving how much compensation, and what work and results are expected to be achieved for that amount.

But So far no response. I believe that's only fair and not too much for shareholders to ask is it? We after all are the ones who are fu nding them. IMO Its something we should be given guidence on just like many other operating companies offer projected quartely guidance on income and expected profits and costs. Its shareholder friendly its transparent and will give the market confidence.

Without it, the in a bear market like now the market will usually tend to imagine the worst. (which share price is reflecting) IMO They need to inform shareholders better not just leave shareholders in the lurch like now. - If they really are cutting back on all costs and salaries (as they say) then let us have an indication of how and where and it will help shareholders to make their mind in a more informed way. Thats good corporate governance and only fair.

look if they do want the cash for a new deal then they will let us know and we can vote on it. but for now we need more concrete info or guidence IMO.

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In my opinion, Now would be a good time for the board of directors to show their faith in the project and buy some shares on market with their large fees.
Time to clear up some loose paper.
Nudge, Nudge, Wink Wink to the blind Wooky , Bill!
No hints.

CLA Price at posting: 1.6¢ Sentiment: Buy Disclosure: Held
18 Upvote

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