Realistically, how much time is 1 or even $2M going to buy?
These guys have a pretty substantial outgoing cost base because don’t forget, there is an ongoing concern in Uganda that needs to be kept afloat as well as all those salaries that people get. I also think it is somewhat unfair to blame the top end of management as milking the cream off the top. I am sure there are quite a few people on the payroll now that are being paid according to their skills and experience and they still deserve to be paid.
I still believe they are on to a good thing, but unless there is an appetite from governments around the world to ACTUALLY decouple from China like they keep saying, we are screwed.
Lots of talk, but that doesn’t pay the bills.. I am so deep in the red now, I just have to hold in on the hope it will happen at some point. I’m just glad I don’t desperately need the money..
IXR Price at posting:
0.9¢ Sentiment: Hold Disclosure: Held
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