Many like myself have been invested in the company for in excess of seven years. During this time although past ventures have not necessarily been successful a level of transparency has always been maintained allowing investors to stay informed. Over the past eighteen months or so it appears the modus operandi has radically changed with the flow of operational information being totally neglected.
An example of this was during drilling and testing of 77H when instead of following recognised and acceptable protocols with weekly or at least fortnightly updates the company instead adopted a pattern of irregular long and convoluted attempts to inform followed by periods of deafening silence.
Unfortunately this pattern is now continuing during the infrastructure and production phase. It is understandable that there will be delays in the projected activities but these should be acknowledged and shareholders made aware.
It is laudable that funding for 78 and 80 has been achieved but the lack of concise regular information is in my opinion damaging to the company's reputation and consequently impacting on the share price. Unless an effort is made to rectify these pressing issues the situation can only continue to deteriorate.
My concern is not that this will go unseen, my concern is you will see it and continue to bury your heads in the sand.
OEX Price at posting:
3.4¢ Sentiment: None Disclosure: Not Held
