What a joke!!! I cant believe I put money into this company.
It was only 2 weeks ago IRL presented at the Excellence in Mining and Exploration conference in Sydney and suggested cash flow positive during September! Deeerrr. Now we are told "the Surda Mine is on track to achieving an operating cash flow positive position by the next quarter."
Not even one mention of their inability to reach cashflow targets this month. Is it just me or have I got reason to want some serious Liverpool kissing to take place at the next board meeting! This appears to be the fixed price contract from hell. What is even more of a joke is A Simpson wants to extend the fixed price contract beyond 2020. What The %^&$, extend a contract that is bringing this company and its shareholders to its knees. To top it off, Mr S is trying to sign another contract before Surda is viable. Let me see, I think Mr S thinks 2 times negative cashflow makes a positive. I think not Mr S. WHAT THE HELL IS GOING ON HERE!
Just looking back through previous company announcements I am quite concerned that this heading down the path of MON. Something stinks here and management have lost all of what faith I had. I truely hope a few top 20 shareholders start asking some tough questions of management and demand answers!!
Sorry for the rant here guys, especially Bush and Hip, but enoughs enough. It scares me to think some of the people involved in helping MK seal the original Surda deal are now negotiating the Khetri mine. This could all turn around but we said that back in April. This just isnt looking good and is literally a joke!
Im a happy drunk so Im off for a beer.
IRL Price at posting:
4.6¢ Sentiment: None Disclosure: Held