And now you see one of the main issues ShellBell. I said 12 months ago that the PR and newsflow were not being developed correctly. Recently there does appear to be an improved effort since the new CEO came on board to get information flowing. But it is still lacking in quantity, and in presentation overall.
Today for example. there was an email sent out, repeating the announcement of the other day, (which itself was just referring to Mitsubishi's own announcements). We are not partners with Mitsubishi as of yet and this is simply window dressing to create a news flow out of something that by way of a very loose association, is made to to look relevant to MRC in terms a positive news flow.
Todays email should have be sent out at the same time as the actual announcement was released for maximum impact (should it be a suitably relevant announcement), otherwise it is just trying to stretch out news to stay relevant. It is a poor strategy.
Good to see an effort being made but its is still a long way from cohesive relevance.
As you rightly say, it is as though they make announcements and then as an afterthought release further announcements to explain the first one.
This agreement with Mitsubishi is an MOU only, as were the previous "deals" announced as MOU's, one of which current board failed to cement and another which was announced and has since been invisible.
Due to a historically poor execution in this period, I will not believe anything has any value to shareholders until it results in a signed contract that brings a confirmed revenue stream and return to shareholders. Until that point, it is all waffle and performance shares should absolutely have not been even considered. The fact they were approved means nothing as the point is that they should never have had the audacity to even suggest it in the first place under current conditions and just prior to the Mitsubishi announcement being released if i'm not mistaken?
To me it wreaks partially of some of, or all of said staff considering to jump ship and this was a way of keep them on board so as to stabilise management for a while.
As soon as you see that 50 cent lawyer Hancock jumping ship, you'll know somethings wrong.
Parasites always jump to a new host body as the current one is depleted if BBC Attenborough is any guide to go by.
MRC Price at posting:
10.5¢ Sentiment: None Disclosure: Held
(20min delay)