Nothing to do with the benefit of hindsight.
The most basic/incompetent error that comes to mind is
having such a chronicly low cash balance going into the court decision when
Sp was in the mid 30s. WTF would you not have raised money then
no matter what you thought the outcome would be of the court case.
Basic risk management would say to raise then due to the fact the court case
could and did go the wrong way. That most basic of errors cost shareholders a fortune
and it hasn't recovered since. Not only a fortune in paper losses or losses but in dilution and lost time of not being able to go straight to SJ due to the not knowing wtf
to do for a couple of months.
It's like Groundhog Day on the AVQ thread so I'm not going to comment beyond that point. It's all been discussed before and there are too many fanboys with blinkers on.
What I would like to know more about though is the $17M debt question that was mentioned on here by someone that has not yet been responded to by management?
Ann: San Jorge Drilling Program-AVQ.AX, page-131
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