The Directors "intend" for the available proceeds from the Paulsen's East sale to be applied towards the advancement of Strike’s Apurimac Iron Ore Project.
Strike has owned Apurimac for circa 10 years. They have arguably intended to advance the project for 10 years. They have failed. Odds are they will continue to fail.
My opinion is that the proceeds from the divestment of Paulsens will be to add to the kitty to pay directors and managers fees for another 10 years and us shareholders see the cash pile dwindle.
If our directors and managers could have got Apurimac operating and profitable they would have done it by now. They could not get it going during the recent boom in iron ore prices. I doubt they could do any better now. Time for a change in Directors.
I'll be voting NO.
Just my opinion, please do your own research.
SRK Price at posting:
3.8¢ Sentiment: None Disclosure: Held
