Yes, lacklustre - it looked like Batten's heart wasn't in it.
A small company needs to grow. My interpretation from his talk was that he would like to do this organically via increasing tonnage rather than via fundraising - as he was not as enthusiastic about a TSX listing as some N.American investors are.
Could it be that there are disagreements in the board room about whether it is a good idea to raise funds in Canada.
The company has no debt, so I could see that there might be differing opinions on this matter.
modern energy investor forum presentation, page-31
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