I echo your point of view and sentiment. The company reiterated guidence after a poor quarterly.
That poor quarterly was a gauge on the viability of the company as a going concern going forward.
Those fears were allayed when the company was able to issue about 1/6th of float at 12c. Guidence which they reiterated despite Covid and staff issues, plus large abount of new holders at a higher than average price, sent a clear signal to the market that the company valued its equity at 12c a share with no issues moving forward.
Now we find that the known issues which were temporarily allayed are severe enough to remove guidance, and that these issues were so severe whilst the company was raising capital. Holy F#$%.
At best, management has an issue with timing the truth. At worst it is outright fraudulent. That is an issue for holders to decide.
Ive decided that I can no longer trust management. Sure smarts UG might be worth quite a bit, at current gold prices. That means nothing if you cant trust management.
If the company wasnt in the financial position that its in, a lawyer would have fun with this. No point though. It would be the death knell of the company and shareholders.
Best of luck all. Im out of TRY.
TRY Price at posting:
8.7¢ Sentiment: Sell Disclosure: Not Held
