"What the #*+x". What is the point of this aquisition at this time. Spending $250k or diluting the value of the SLR offer by issuing shares to Galaxy" It is the equivalent of selling my house for an agreed price and puting in a swiming pool (for the new owners enjoyment)after the contact is signed. So this is not a value adding aquisition for PRH shareholders.
The securing of tenements around the Ravensthorpe region has not necessarily a bad idea if you had plenty of cash and were certain to have an operating mine and plant in the area. But this is again putting the "cart before the horse"
This is the last straw and another example of the current board and management not acting in the best interest of the company's shareholders. This might just be the trigger for some action by some disgruntled significant shareholders (and there are some who have plenty of grunt).
This board and management has to go right now before they burn more precious cash. I will be happy support any move by a shareholders group to put in a new board and management of integrity and do my part to assist recapitalisation of the company.
PRH Price at posting:
2.5¢ Sentiment: Hold Disclosure: Held
