I am not privy to all the facts, which makes it difficult for me to comment.
However, despite this, to me this whole senario seems a massive over reaction by all concerned.
We had a serious incident in the Hicks extension, but this did not require production to cease. It could have continued without closing down the mine and now sacking the workforce.
Not only did this action cause resentment amongst the staff, we are now short of cash , which most likely require another capital raise. Also it appears to have upset the Government.
The market reaction when this share relists, I sense will take a hit because amongst other things a capital raise would appear to be on the cards Also because leaving the company in suspension for such an extended time results in a loss of confidence for the future by investors.
Some of the comments being made by KN in the local press also appear to be excessively gloomy. I am not sure all his comments are in the best interest of the company. Discretion would be a wiser course of action.
I can only hope that when the company eventually relists the directors can announce some very convincing business plans to help restore some of the loss of confidence which I feel has developed towards the stock.
TRY Price at posting:
11.0¢ Sentiment: Hold Disclosure: Held
