Poor leadership and management
Lack of foresight and planning by ceo and board.
Ceo and board would have known how bad the quality of ore and issues with grant mine - but due to their lack of mining expertise.
They should have known the lack of cash flow back when sp was $1.
Do a CR at a higher price - Instead they did it at 40c
at $1 sp - they could have done a CR at 85c and raise $400m to $500m.
Recently - there as been abnomal force supporting the sp and trying to push it back up - but failed.
I bet they are trying to do another CR -
Now, they can do a CR at 10c or below.
Again - lack of brains by ceo n board - they should have known how much fund they will need before doing the CR at 40c
Ann: Strategic Review Update, page-344
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