Spot on - I voted online but the nagging question in the back of my mind was if the shareholders don't support the CR after the vote - will we have enough cash to start doing what we have to do.
Then the vexing question - Is it fair to expect this board to retrace the entire value equation back to the 1.5c before the 249D vote before they will have been seen to succeed or will they get recognition from the 0.8c - then if it climbs above that will they constantly be berated for the top-up which will now start costing money. Really I think that the board will always have issues unless we pay back @$15.1 million and then the sp shoots up.
You could never pay me enough money to sit on this board - I think many think that you walk into a bank and get a loan - easy as that.The whole O&G speculative market has taken a beating over the past year so its not like these guys walked into a market that would tolerate risk. Its got harder over the period and the plant has not helped either.
Even I read today's announcement and read scheduled maintenance and noticed how tense I was getting. I almost expect to see pipes held together with duct tape - It isnt that bad anymore but the past does impact on your views of the future.
I must say I dont think its over until we have the CR and I may want a minimum subscription put in under which they return the funds. I would not want to have gone big only to find we still dont have enough money to do what we need to do in the first half of 2015.
EGO Price at posting:
0.6¢ Sentiment: None Disclosure: Held
