To be fair to Plums, whilst I don’t necessarily agree with all his views on management he is entitled to them.
There has been a few hiccups on the way.
Their contract with Simulus which they should have acted on sooner to terminate. Yes I know you are going to say it was filler whilst we waited for a better option (Jaguar) but still there must have been some wasted expense to shareholders in that deal.
Hopefully we won’t have wasted to much money on getting our updated Jorc for Jambi if we don’t follow through with some sort of action there. After all, they must have had some goal post in sight to revive the project otherwise that’s more shareholders funds down the drain. And yes I know situations change and IO prices fluctuate etc.
My point is, I don’t think it’s time to castrate management just yet but they do make mistakes and they do need to take ownership of those mistakes, and more importantly be transparent with shareholders when they aren’t delivering what they promised (ie strong news flow). There may be very good reasons but we as shareholders don’t know them. I’ll bet the major shareholders do and there in lies the inequity.
The lack of communication is what is perhaps leading to not only Plums frustration, but mine as well and perhaps a few others.
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