I must agree with your take on Azarga's dire financial position. However, the company has historically demonstrated an uncanny ability to survive extended periods of financial distress, and I expect AZZ will survive this one, in part by disposing of its WUC stock.
While it is true that Mr. Molyneux is not currently on the board, he is still driving the bus. He is one of the top three shareholders, and his hand-picked associates, O'Kane, Strujik, Church, Havlin, and Steele, still control the board.
Dick Clement is merely a figurehead, a carryover from Powertech's glory days who arguably sold out long-standing Powertech shareholders by agreeing to a reverse takeover by Azarga Resources.
BLR Price at posting:
0.2¢ Sentiment: None Disclosure: Not Held
