Hard not to be a little concerned that David Flanagan walked... He knows his sh1t. I can't see any spin on these walkouts that can be positive; there must be some feasibility feedback which the board was divided on, and with basically all leaving it has to be negative news which the major shareholder disputes... Which is their right.
Are they still spending the full $5m on the formal study? If so - there goes all the funds on hand. If that report show that the whole project is marginal - that's all the cash in bank down the toilet for a tenement that's worth squat. Perhaps that's where the division came from, wasting the little cash the company has for something that's looking marginal.
Just my thoughts on what is quite a confusing development given the wording of the announcement.
CZR Price at posting:
0.8¢ Sentiment: None Disclosure: Held
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