Chairman is sorry they haven't been able to get a joint venture or cash to come up with the $5 million needed for the deadline in 4weeks time....
Happy with the Tassie and Spain ventures...
He blames Market Conditions.....
Seems to me he could look closer to home rather than Market Conditions...
Lost opportunity due to a lack of Focus and priority over an extended period of 2years...could be an issue?
Someone tell me why didn't he..
1. Announce a cash raising solely to fund the $5million condition... 2. Announce that P3would be drilled if cash raising was successful... 3. Sell all non Geothermal assets . 4 Cancel the Tassie distraction...
This would has increased the share price significantly....lots of us ex large holders would has participated and the options would have generated additional funds as well...
Unfortunately he....cash raised with no reference to funding the P3 drill but pushed the new venture barrow....
I am convinced that a whole lot more shareholders would have been interested in the cash raising if it was to do with there core business which the chairman could get fron the original IPO?.....all those years ago..
People invested in Geothermal ....not wineing and dining....going to conferences and flying around the world.
2years of lack of focus could be like a cancer......eating way at the core of a business...some blame Market Conditions.....
PTR Price at posting:
1.0¢ Sentiment: Sell Disclosure: Not Held
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