Some company directors attempt to put a positive spin on everything, without being completely up-front and realistic. The response from INR to this announcement by Sibanye was short and muted, without any discussion. Now is the time for them to announce a webcast and shareholder discussion session with questions being answered. If they DO NOT do this now, then I would suggest they are abrogating their director responsibilities.
Interestingly, there are also some company directors who are very open and honest about their projects and their company and the market. For instance, although I am not a shareholder of Patriot, I was reading through all their material today, and they've presented some very interesting, and very honest analysis, and are quite correct to show, and openly state, that at the current spodumene and carbonate prices, only one (1) project in the world is actually making money, and that is Greenbushes. I found the honesty refreshing, and rare at this end of the market.
I'm not sure that we are seeing the same thing here.
If they do not now have a webcast and question session for shareholders, or if they attempt to hide behind excuses for not doing so, then I will be losing respect for those running the show here.
There now needs to be honest and up-front dialogue.
Everyone wants to hear good news, very few want to hear the truth.
Gw
INR Price at posting:
14.0¢ Sentiment: None Disclosure: Held
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