Yeah I realise my own tone is a bit down, and I apologise for...

  1. 517 Posts.
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    Yeah I realise my own tone is a bit down, and I apologise for the narkiness of that comment earlier. I've been holding since 2015, and while generally resilient to ups and downs I had a distinct flush of success early on when we hit 8 cents or so and like an addict have been chasing that high down with more money.

    Have seen many millions of options wiped, and with the general market for LI in the doldrums:
    - we've no cash,
    - no apparent lever to pull to get more cash (I participated in the last CR, but there was not much passion from anyone for it and I don't think it can be replicated, both at current prices and amongst an exhausted retail holder group),
    - the company is locked into dealing with a couple of countries where there is a touch more sovereign risk than Australia (I'm not saying Namibia or UAE are like Mali or Venezuela for example, nor is Australia even always safe... I hold Regis Gold also which has had it's own sovereign risk event in NSW),

    I'm ready for death, and for acceptance. I have to 7x to be break even, and fine with riding it into the ground, though I'd rather not. A non-cash generating speculative technology is a highly risky investment and many fail and one should expect that. I see this sudden flurry of optimism on this board but I'm struggling to see what facts are driving it. Perhaps it is merely as my cognitive bias is reprogrammed to destination f**ked.

    Anyway in retrospect that's all a bunch of maudlin crap but I've typed it now. Don't get me wrong - I want us to win and I want all the believers including me to be rewarded for their patience and support. On the basis that we do not die, somehow, I want to know very soon:
    - A lot more clarity as to where we're going to source cash from, without being diluted even further out of existence
    - If P1 in UAE is no longer realistic - what's the new game plan? how many years this time?
    - I expect execs to be well remunerated - it's a competitive market for talent, and Julian at least is very, very experienced. But I'd like to see a little more personal investment. If not buying shares, then a willingness to defer cash upfront for medium or long term incentives. It's not just an incentive personally, it would be a demonstration that despite telling us things have been going great as they have for years - that they actually believe their own comms. Hell I'm even happy if it's a highly preferential future options package on Black-Scholes calculations, beyond dollar-for dollar. In the scheme of things, I'm happy to be diluted a tiny bit more to make Julian mega rich, as long as it comes off.
 
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