The most worrying thing about today's announcement is that the MD thinks this maiden quarterly report is fit for publication. The Vibracore sampler obviously hasn't been deployed yet. 5 pages of bumf to read through to figure that out. Absolutely no new news at all. I am not interested where the ship is based. I just want to know what the technical difficulties are, when they are going to be resolved, and I don't want a load of unsubstantiated opinion: "is well advanced", "is underway" (just give us the frigging facts so we can make up our own minds). With this new MD in control there is nothing to distinguish us from other 1 cent spiv companies. Rather telling that nobody is willing to sign today's announcement!
Does anyone know which shareholder put Mr Jordinson in charge? $800 a day for this is simply dreadful. Was the idea to appoint someone who wouldn't outclass Mr Drummond? If that was the aim then they have been successful. On the basis of today's report, this is a don't-touch-with-a-barge-pole company.
UCL Price at posting:
0.6¢ Sentiment: Hold Disclosure: Held
