IMHO I don’t think it goes far enough. There is more information on the side hustle of the managing director than the company paying him over 200k a year plus options. The credit raise was done to speed up exploration which never occurred. There has been no update or evaluation of results, fieldwork or company direction in months. The share price has crashed, and instead of giving the market assurance that work is happening behind the scenes, the only info we got was a throw away line saying we are looking for other opportunities. The whole delay for drilling was not because they couldn’t find a drill rig, but the operators we used before refused to work with the company again after getting paid in options not worth the paper they are written on. As you said this is opinion, but it is based on the small amount of facts and information being released. Everyone would love an announcement saying behind the scenes all this amazing work has been carried out. But with laws of disclosure let’s be honest, we’d have already heard of this with a market sensitive announcement. No one wants this company to fail, in fact quite the opposite. All people want is assurance that work has actually been done. If it is, great, let the shareholders know there is a direction and what it is. If not, great, let’s move in a new direction with a new board. I don’t think it is ever going to far to expect accountability of the people being employed by the shareholders (especially when they themselves have no skin in the game). You don’t have to disclose confidential information in a company updateat the end of the day let’s hope that the next update is that there has been 12 months of hard work…not we have dug 1 hole and looking forward to opportunities as they arise.
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IMHO I don’t think it goes far enough. There is more information...
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