Our board got rid of Carnavon, Canning and Southern tenements, some will agree or disagree with those decisions.
The only issue I have is we gave them all away for not much and in some cases nothing. Key was a failure which was a good move. Canning, Carnavon well could be the same and others in that area will make $, we didn't have a huge exposure there plus no money to do anything with.
But we don't have enough money to look after the perth area, so what else could they do. They have to maintain tenements and with out money where do they go. So it's not a concern for me.
However the Southern area I believe was a bit premature by our board but at least we still have some % in it and is it any different to what they are trying to do with the perth basin and flog 40-45% to a farmin.
I have always maintain we should go alone and return all profits to EGO and holders. So what ever way you look at it our team have indicated that we at best will only ever own say 50% +- going forward after farmin so is this any surprise to us about Pilot.
EGO Price at posting:
34.0¢ Sentiment: Hold Disclosure: Held
