Hopefully all will be revealed tomorrow.
- Summary: Trading Halt
- Price Sensitive: Yes
Appointment of a new director. A board reshuffle maybe? A government lobbyist maybe? Who knows. Must be value adding not just number filling.
But to warrant such superior treatment, it has to be huge, or it might be considered just promotional.
The resignation of Phil Staveley does not sit well with me. I have not seen any evidence requiring his resignation. We will probably never know the full story. In the absence of any plausible reason, I can only assume that he was made a scapegoat to appease shareholders. IMO.
JP has indicated a change of direction (D) is needed. The mind boggles.
Look at past directional proposals.
D1. Gas.
D2. Power generation.
D3. Urea with maybe H2 as byproduct.
D4. Consultancies using NRZ's UCG technology. South Africa and elsewhere.
D5. UCG coal mine purchase in South America.
D6. Purchase existing fertilizer companies. (somewhere).
D4. UCG development in China.
So, what direction is next?
The biggest thing on the horizon, IMO, is.
This DL bill, USD 20.4 million i.e. AUD 31.26 million owing is increasing due to an interest bill of about AUD $650.000 per quarter.
A current bill of AUD 31.50 million which can be called in, wrecking the company, at any time if DL has reasons for concern.It will be interesting to see what this new director will contribute to steering the company in a new direction to eliminate this debt.
Bring back PS. He might have been the only moderating voice on the BOD. Just my thoughts and opinion. What are yours?
(20min delay)