Banter and General Comments, page-8414

Logically, the US$175 million in the bank GXY share price should fair much, much better than our cash trapped peers in this adverse market condition, but we are not. Why ?? I thought CASH is KING. -- apparently not.
Over the years, came across few companies that the share value actually trading below cash backing (they have a common factor - all run by inept, ultra conservative board).
The reason I envisaged was the market or analysts do not appreciate lazy money sitting in the bank (just earning measly interest) and not deploy for good use and increase shareholders value or doubt the ability / calibre and indecisive of the board to make good use of the money to advance the company.
The perception was GXY is adrift and spinning at the same spot without a clear path or strategy (or at lost) what to do with the money, so it is actually negative having money sitting in the bank earning 2% interest
Not knowing a great deal about Simon Hay, but the Chair Martin Rowley past records give me the impression that he is too conservative, sluggish, slow to act, old fashion and lack of innovation type of guy (or chair warmer).
It is best suited for him to run a ultra,ultra conservative pension fund rather than an ever / fast changing lithium industry where well judged decisions will need to be made frequently and quickly, how many times we heard him mentioning shares buy back consideration (may not appropriate right now) without any actions since we got the POSCO money.