dyor, page-37

You may be right Pheonix, but I'm not convinced. I think that there are more things than a lack of joint venture(s) that suggest disorganisation and stagnation. The board has needed to be expanded to include appropriate operational talent, but it hasn't been. There has been a need for rationalisation of the unmanageable grab-bag of tenements, yet nothing has happened AFAIK. The hints of imminent joint ventures seem vague and unconvincing to me. Last but not least, the market seems wary of them.

It's all a pity, given the high quality of the assets. However, I think that it's appropriate to begin acting now to withdraw support, firstly to signal shareholder displeasure, and secondly to ensure that any changes needed can take effect before the money runs out.

Just my opinion.

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