Ann: Chairman's letter to shareholders, page-20

Not a bad update.

At least they're providing some specificity around timing (strategic direction prior to year end) which they can now be held accountable to. They could have left the date open but they haven't - tick.

Acknowledging the impact of this decision on the locals and that they are still helping out for them to get a reasonable outcome. - tick

Potentially distributing cash back to shareholders - tick

Reducing overheads - tick


We've seen plenty of posts about previous chairman and MD and what they did (or didn't do) that has put us into this situation (I'm in violent agreement with most comments), but the milk has been spilt so we need to move onto what's next. This update is a useful start. I'm looking forward to another one in 4-6 weeks if not earlier.

However, I would like an update as to why we are still in suspension considering we have no significant financial obligations to Morila anymore (I assume) which would indicate we have ample cash to support operations for the near term. I'm a little bit agnostic as I haven't thought through the pros/cons to re-listing prior to the strategic direction being provided but I'd like to understand their thoughts on it all the same.