I think you will find that there has been no serious or material breach or dereliction of duties on the part of the company. This is a simple case of the resource couldn’t be mined profitably.
I think the Company kept the market informed and was very open about the issues it was having and the state of its finances. Based on the disclosures, many people decided to exit whilst others took a chance that managements expectations would be realised.
I don’t see anything surfacing now that is surprising or hadn’t previously been heralded. Even Byrnecut knew the risks, hence the 20% interest and as for Pybar, who knows? Maybe they did cause the delays that forced the company into use up its cash buffer and then go into the red, that’s for lawyers to sort out
Management did their best and the market was informed at all times. Bad luck is not a crime
WPG Price at posting:
1.5¢ Sentiment: None Disclosure: Not Held