Hi
@SurfingTheSet ...While I'm not overly happy with the cap raise, I certainly understand it puts us in a better position going forward for Morila. What we shareholders need to do is put pressure on BOD to give us the full information about the costings of getting this up and running, capex and opex.
Are we there yet??
Why indicate we were 'there' a few months ago, then raise $153m, because we were not??
Please note I always say BOD as the MD doesn't do anything of major importance without running it past the BOD first. The cap raises, major spending and timing is all a collective BOD decision. Even the announcement on Dec 2 was clearly a BOD decision... This from the announcement...
"
This announcement has been approved for release to the ASX by the Board."
@dazaliam ... I agree with those comments of yours this morning, I'm pissed-off for having to make that assessment!! You let your guard down for a minute in this game and it tends to bite you on the bum. Your also correct, it's not good enough.
The announcement on Dec 2 is the item that upsets me most, as it goes to trust, honesty and integrity. I would have preferred a TH and a suspension if it took extra time to raise the capital, even if it meant a cheaper raising, instead of that announcement. So I'm still waiting until Monday to pass judgement...
@contraindicator .. Yes we do have to 'trust' management. What we don't have to do, is either sell out of good assets, or put up with poor behavior, there are other ways, but it's too early to discuss anything. I don't believe in throwing the baby out with the bathwater.
The benefit of doubt remains until the announcement about the cap raise. IMHO the announcement from 2nd of December needs to be addressed in Monday's announcement, not glossed over, nor forgotten about. The ends
do not justify the means, and using the excuse of 'everyone in the cutthroat world of ASX acts this way' is...
A. incorrect and
B. no excuse..
(20min delay)