Completely aligned 'Mr Pick'. Still nothing new. We were aware...

First 6 Last

Share
Profile

Follow
dlm696

927 Posts.

14/11/14

12:38

Post #: 14290690
Share

Originally posted by thepick ↑

One thing is sure and that is that Trev would be working hard behind the scenes with the crew at BRR to create another webcast.
I can't wait.

I don't have a problem with mgt coming clean and telling us that the market is crap and we will park the project and slow the cash burn until it improves. Instead these guys (including Directors) are spending 10% of the value of the company each year in their salaries and on costs to churn out the same lines.
As for RCF, I am not impressed with their contribution to this project or other projects whose companies are listed on the ASX. Their strategy appears to be to allow the company to keep burning more cash for no reason, while "waiting for the market to turn" and in so doing RCF tightens the noose by providing last resort financing at sky high prices. Things will improve eventually in the market when RCF will appear from the haze with 80% of the business and mgt will wonder "..how did that happen?"
Apologies for my scepticism but mgt is playing right into their hands.
I got in recently at 0.7c and am in two minds whether these guys are up to the job.
Just another view.

TP

Expand

Completely aligned 'Mr Pick'.

Still nothing new. We were aware this was going to be the case and the offtake which has been close and imminent and near completion for 2 years hasn't been delivered.

As you said, 10% of the total value of the company lning execs pockets. For what?

MZI Price at posting: 0.8¢ Sentiment: Hold Disclosure: Held
3 Upvote

0 Great analysis

Reply