But somebody actually has to actually be doing something.
With emails going unread and documentation going unlodged for weeks, it makes me wonder if that paragraph is just hot air to pacify shareholders up whilst the cash is drawn down by $1000 per day for 'administration' despite very little attention to the business and little engagement with shareholders.
Anyone wonder where that money is going given company does not respond to comms for weeks?
What will it cost shareholders per day if management actually start putting time in weekly/daily/hourly?
It could be being steered to a tenth of a cent to be used as a shell for BOE at which point exploration assets with $50m spend to date could be moved out of the company into an opaque private ownership structure at which point an analyst could place a value on them and relist them at a huge premium for more exploration funds in a couple of years time.
Still, given shareholders are hostage to such a scenario, this would still a better outcome than simply tipping it into admin as shareholders will have a 99.5% loss instead of a 100% loss. Sounds to me like management should get incentive options for that outcome.
RNX Price at posting:
0.2¢ Sentiment: Buy Disclosure: Held
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