i still have no idea why the previous board acted the way they did - all of a sudden they could not get out fast enough and on the way out gave up the leases - they still had funds in the bank but they could not be interested in looking at any alternatives - even if they thought there was no value in the leases they could have at least left that up to the incoming board.
From memory at the time they exited gold was already in an uptrend - Holding onto on the leases for 12 months to me should have been a no brainer.
So what we are left with is a Board which is fairly non communitive, 2/3 of the company's cash is now gone and at this stage all shareholders have is a statement in the last quarterly that they are finalising documentation.
At least iron ore prices are high so if they can get the deal settled it should place some value on our shares.
CRB Price at posting:
4.2¢ Sentiment: None Disclosure: Held
