I have responded to the Investorgroup and am in favour of delaying further dilution. There are too many opinions on this forum all of which won't change anything - many are simply 'smart" comments! IMHO there are just a few questions we need answered by the directors: 1. Is the company solvent? 2. Do we have a genuine forward plan/forecast with likely outcomes that we, as SH's, can peruse? 3. What other sources have we been to in order to fund the next 6 months activities without dilution of SH's capital? 4. Why were funds from the last 2 raisings spent on projects other than PB, when all directors comments made within the explanatory document were about PB. 5. What has/is being done to control the "öut of control" expenses - office rentals, accounting costs, audit fees, bonuses, travel/accommodation/entertainement and salaries generally? 6. What have/will directors done/do in future to ensure the minority SH's have access to up to date knowledge about the companies activities and forward positions? 7. If the company acts upon its comment of delaying drilling due to insufficient cash raised in the current raising - what is the company fallback plan and will we, then, be still solvent, if we are in fact solvent now?
Others may have other items on their respective agendas - however I would dearly love to have some commonsense advice from the directors about the above.
GGP Price at posting:
0.8¢ Sentiment: Hold Disclosure: Held
