What am I worried about, Honestly its the ability of the EGR board. Is the change of focus due to the board's ability to deliver on what they promised? We are all waiting to hear the updated plans for Kwinana, We were advised EGR was ordering long lead items, offtakes were coming, It appear the offtake with ThyssenKrupp was complete BS along with everything the company has pitched to investors over the past few years.
But lets all move back to Tanzania. Where we are are yet to obtain the framework agreement with the Government of Tanzania, then we need to revise our RAP with the locals, and secure funding (which we have been trying for years with no progress) this appointment of a Development executive IMO is way too premature and a waste of shareholders funds until we secure the items above.
BTW, I won't be selling my shares, every vote counts at the AGM and I hope there will be a few changes to the board and the performance bonus are refused. Mr Spinks needs to focus on his communication with shareholders and stop treating us with such contempt.
Oh, yes we did have $54mil not that long ago, what do we have to show for the ~$10mil that EGR has spent since the capital raising? SP is down along with our MC, We know our peers are not having any issues attracting investors when one has an MC of $700mil, Developments by EGR are non-existent and shareholders are left in the dark. We all know who hasn't been left in the dark, The shorter's, they certainly know a lot more than us.
EGR Price at posting:
32.0¢ Sentiment: Buy Disclosure: Held
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