It frustrates the crap out of me that some management teams have no sense how to deal with shareholders.
We are at the end of an extended rights issue. I am not sure if there is scope for a further extension.
They released an announcement yesterday on funding which relates to a party associated with a director.
They also stated "The operations of the PCD continue to progress and the Company looks forward to providing an update shortly to the market."
Why do they not release the results to the market, good or bad. If they are good, the share price will rise and the need for the deal announced yesterday goes away as shareholders will contribute some of the funds and the rest can be placed with instos.
If the news is bad, so be it.
However, giving the deal yesterday, which in my view is awful for us, without the results being released is just wrong.
Sorry, rant over, but I am getting over these guys.
The project has always looked attractive to me. The management of the project has been less than successful, dating all the way back to DS.
AL
LCK Price at posting:
11.0¢ Sentiment: Hold Disclosure: Held
