add up all the capital raised since aquired the png projects its over 10 million maybe closer to 15!
what a poor waste of money spent on the projects. to far too long to drill and that was a disaster in its self!
they farmed out projects that with little knowledge of what they had , so much for farming projects out once they get a better understanding of them to get better value out of a jv.
some of the vendors must be so embarrased how this has played out for them , and its cost them millions of dollars!!
let not forget most of the capital raisings where the same company most of the time, which was a related party.
i dont blame taylor collison for pulling out i would have too its the only time they had decent support from a reputable broker/ investment bank
they have never listen to any good advice i know from my trips to sydney and speaking to other companies and brokers they have got lots.
seriously they should all retire.
FOY Price at posting:
0.5¢ Sentiment: Hold Disclosure: Held
