Ann: Quarterly Report, page-9

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basil601

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31/07/18

18:53

Post #: 34654646
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Originally posted by Fast&furious ↑

What a joke. Staff and admin costs for the year total $885,000. This is more than the placement of $735k. How are we going to move forward. We spent nearly $10million last year in exploration in Uruguay with no results. What is the concrete plan to move forward? Put aside Uruguay, how much do we need for Spain/ Australia? Where are we going to get the money? What is the time frame to achieving spud day? With company non productive expenses nearly $1million a year do you think investors are going to throw money into this company? Funds will not come our way easily especially when management is not even presenting a workable solution here. They are asking for further $1m but vague on how to spend it. Study? Drilling unlikely. What then? Wasting time is wasting our precious cash. Management needs a strict timeline in a workable forward plan. They need to show there is a plan, a timeframe in delivering before they can execute it. That’s why I’m very critical of this bunch of failed management. No clear plan, no timeframe, just taking their own sweet time. If you look at other company management actually sets out what they going to do, how they are doing it and when they will get it done by. Without any clear direction we are doomed.

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Right on Fast & Furious,the hoodwinking goes on and on.
Just the same window dressing from DC,same crap over and over with nothing new,regurgitate the Spain and Australia promotional propaganda and sidestep the main issue of Uruguay and how $15 m drilled only 1 well and how now we are moving forward with $735,000 and "restructuring the company and giving shareholders a better access to a range of assets at a different stages of development" and so on-----master of spin.
The CR is going to be dismal failure and DC and crew would already have feed back and be aware of the expected poor response.The AGM agenda will hopefully vote down the shares issue to all the board for Q1and Q2 and their total replacement would be the best way and only way forward for PRL.For DC and all board etc "No work,no pay and no job ".
GLTA ,we will need it

PRL Price at posting: 0.2¢ Sentiment: Hold Disclosure: Held
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