Not a great outcome for holders. Can't not feel a bit duped - AF gets the assets cheap and there has been no real clarity around the extent of the As issues. How are holders meant to weigh up a decision like this without the BofD coming out and clarifying exactly what the situation is?
People love throwing flack at board and heads of these little mining companies. Sometimes there is justification, most of the time there isn't, but in the case of the former boss here (DS) it's absolutely warranted. Take a look at his track record - it's a litany of total screwups that seem to have occurred by a combination of carelessness, incompetence and dodginess.
BofD have just thrown this in the too hard basket and are headed for the door. It leaves a sour taste.
MCR Price at posting:
$1.40 Sentiment: Sell Disclosure: Held
