Bad news out of this announcement:
- it took the new CFO and his BOD over 24 hours to write up an estimate that the new CAPEX figure would be "significantly" more than previously disclosed (who would have thought?). Imagine how long it would take them to negoatiate another few tranches of $200m - $300m finance like JF did?
Good news out of this announcement:
- we are back to being a "mineral processing technology company".
- each of these moves continues to show the market that the BOD is not up to it, not now and not in the past. The fact PB has not been sacked already is now clearly an embarassment on Biddle's reign.
- this continued dispaly of incompetence is another nail in the coffin of the existing BOD pre AGM.
Bad news out of this announcement:- it took the new CFO and his...
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