Cuba Block 9: Operations Update 31 May 2024, page-563

Agree entirely. If a CEO stands on his soap box and proclaims that we will be achieveing milestones at or around a certain time (such as "Flow testing of the Marti sheet is on schedule to commence as early as the end of next", per Operations Update on 31 May 2024), and then goes into "stealth mode", he can hardly be surprised when the market dumps his stock like a sack of hot potatoes two weeks later. I don't want to bag AP out too much here (I am sure he is talented operationally and financially), but part of being a CEO of a listed company is looking after those people who have stumped up their own cash to ensure that you exist in the first place. Fail to do that, and they won't be foolish enough to stump up more when you next need it.

Ultimately, a company exists for the benefit of its shareholders. Altruistic rationale are bunk. Companies exist to employ stored wealth (capital) to generate an earnings stream that is adequate in context with the amount of risk borne by shareholders. It is that simple. So for the leader of that company to blatently ignore the providers of capital, or simply go about daily business without second thought for those people, is simply not appropriate. Yes, daily business (BAU) is critical to ensuring the success of the venture, but should not be done in isolation and should be done with the full consent and knowledge of capital providers. Capitalism 101.

Time to stump up some info AP. Enough silly business.

Stroppy Kit.
(aka Xiao Tu Dou).