directors snouts are long on this one. Don't look at just one column for directors buying, also have a look at the sale of options.
The 'perfect' company analogy. Sport, the MD can announce an invented timetable and see if he can stick to it. The fact that the company cannot say with it with no apparent reason given for delays should be of concern to every investor. Why should posters on HC have to invent excuses for them. Responsible management should be just that 'responsive'. The timetable was given in November-seven months later they are only six months plus behind schedule!
And to cloud the issue, the only thing they are happy to release is some exploration activity elsewhere=smoke and mirrors.
The relevent consultants? Well Snowdens are reasonably solid and naturally react when briefed to do so. Barclays-have a look at their project finance success rate in the past decade. S/P-just another pommie parasitiic broker-go to London, meet a few, you come back wondering how any of them get employed-the skill level is abysmal.
Off take agreements are based on treatment charges per tonne of concentrate,(price participation is a phenomenon of the copper market). The movement in the physical price per tonne of zinc metal should not be relevent. The six month delay in off take agreements does not hold water-just another management stuff up?
My reasons for supporting ,then departing LAF were provided. At least I don't mind quitting a stock if events don't pan out as expected!
Florey's follies?
Cheers,TAS
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