I don't have a problem with the pay .... if you don't pay that...

I don't have a problem with the pay .... if you don't pay that kind of money for staff, you might as well have a private unlisted company.

The company has already improved under his watch. The website has finally been updated and he has released broker research announcements to the ASX. We will have to wait and see what differences he makes to presentations after he has visited the projects. He should really include a timeline to production like all other ASX companies and maybe EV/t comparison like in RUM's Octa recent research.

The problem is that the company is barely worth more than they have spent on drilling the projects. I think the IPO raised $8 million, the next capital raising was $4 million and the last was $1.7 million.

What does that say? The projects are duds, management has performed poorly or the company is due for a major re-rating. The current broker report with a 500% target and further upside potential does not totally agree with the dud theory.