I think it's going to be a no vote from me as well.
Why is time and money being wasted with this nonsense when news flow and apparent progress on our projects has slowed to a trickle since TS has taken over. And here I was thinking that communication couldn't get any poorer from this company.
I'm surprised how much this has upset me. The absolute lack of effort that's gone into this Letter to Shareholders is laughable. TS should be well aware that he's trying to sell hot air to already disgruntled shareholders, the fact that he hasn't attempted to come up with a compelling rationale for these unnecessary changes does not inspire confidence.
Tim, Craig and the rest of the absent BoD made the call to punt DC after a shareholder vote expressed dissatisfaction in the way things we're being done. Clearly they haven't understood the message, a fancy new name, consolidation and MORE options for underperforming management/directors will not have a positive effect on the share price of an exploration company that only has a handful of exploration announcements a year.
After the coup I've tried to remain positive and let TS have a fair go but six months in with no action (I don't count Chinavirus as a reasonable excuse for delays) has left me touch miffed. Poor communication from DC was annoying but at least I could be confident meaningful work was being done in the background. If Friday letter is what TS has been spending his time on then holder now have reason for concern. Another round of no votes might unfortunately be the only way we'll ever see value in the SP that reflects the very good projects PIO has.
PIO Price at posting:
1.2¢ Sentiment: Buy Disclosure: Held
