Just quickly as I have to go, but I think arguably you are right. In the short term there is lots to do to rationalise the assets etc. But longer term it could be the board is too large. I think one has to be careful not to cut back too quickly until the forward picture is clear. They would now be evaluating the potential asset portfolio and some ways forward.
From talking to management, I understand that they do have one eye on costs and hence the AIM listing and London representation by way of an office etc may be reviewed.
It is true though that in this environment where commodities businesses are so profitable, there is a temptation to be "top-heavy".
regards DF
MXX Price at posting:
0.0¢ Sentiment: LT Buy Disclosure: Held
