Poor management and poor decisions prior to the current CEO coming on board. Obviously the jury is still out but there is no doubt that considerable progress has been achieved over the past 12 months:
- approaching cash-flow positive
- more economical SIBS version available
- manufacturing on contract rather than in-house
- ongoing (limited) support from some key players in the mining industry
I'd written my investment off two years ago - now I'm quietly confident (could even change sentiment to buy).
It is also heartening to see two of the Directors with considerable skin in the game who continually top up their investments.
Poor management and poor decisions prior to the current CEO...
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