I also asked Iggy was on the basis of the difficulty of project finance he's encountering. What if the competing projects got financing first would that help us? He said if anyone could get that it would help. We shouldn't forget the's been hammering at the wall in different ways fora while. I note too that Iggy did get finance at Galaxy and the MD of FYI failed miserably post re-finance post-commissioning at his previous Cu gold project. I think the board tried to make him the sacrificial lamb but really it's just a tough business where risk equals rewards. Actually, I would say a number of CEO's (and executive staff) 'failure' is in their resume. E.g even for Luke Tonkin at Reed Resources who now runs Silver Lake resources. That has two major corollaries: 1) You/we make the decision on the CEO to back. 2) goes some way to explaining why a CEO wouldn't invest with their own money as well as the options they have.
As an aside, I once cornered an Entrepreneur & CEO sitting by himself (his contact didn't turn up) in Villa De Este (recently now Zefarano's) and apologised to him for not backing (exiting, his co.) when he had said they would soon come good and it did. He said sometimes it's out of our hand's as to whether things succeed or not. I didn't really believe him then but with the seasoning of a few more years, I do now.
Last edited by arsenic:
The company was Gindalbie gold.29/11/20
ATC Price at posting:
4.0¢ Sentiment: Hold Disclosure: Held
