Buru Energy has undertaken a comprehensive business review and implemented immediate measures to re-set the Company’s focus and capital to the development of its Rafael Project. The review has resulted in a targeted headcount reduction of 40%, a reduction of Director fees, the forfeiting of the CEO’s 2024 Short-Term Incentives, and other measures to deliver a $3 million reduction in annual expenditure.
I wonder if such radical action has ever crossed the minds of our fearless (and well paid) leaders. Nev could get his head out of the AFL and helicopter scheduling. Such things as micro breweries (expensive distractions) could take a back seat to the awful share price stuck in the low 20c range and the prospect of going lower. Wow Merry Xmas!
STX Price at posting:
20.3¢ Sentiment: None Disclosure: Held
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