And why are they continuing to spend big money on exploration...

First 21 Last

Share
Profile

Follow
Yoda

2,554 Posts.

109

03/08/17

19:39

Post #: 26276853
Share

Originally posted by wirapundi ↑

MOU's are where the majority of binding agreements in this situation would start Yoda... so I don’t know if I would go as far to say they’re entirely pointless.

But I completely agree to question why - despite all the apparent interest - they haven’t secured a single committed buyer (especially when they’re in such desperate need for funding). From what I understand, going back a number of years... Atrum actually had offers of binding offtake agreements. But instead they pursued a more prosperous longer-term approach. And given management practically self-imploded soon afterwards, has proved very obviously to be a much less prosperous approach.

OR… that’s actually all bullsh!t, and they’ve been pedalling a misleading story the whole way along. At this point, that would seem the more plausible.

Either way, it’s now August, and still no CEO. They’ve basically spent the entire last capital raise looking for someone? What a fcuking disaster.

Expand

And why are they continuing to spend big money on exploration when they already have a JORC of 1.57 billion tonnes at Groundhog? It doesn't make sense. Just mine the bloody thing!

The inability to find a CEO is a lie. There are hundreds of extremely capable individuals gagging for a high paying position as CEO of an ASX company. Coal is not rocket science. The board is delaying the appointment for a reason, God knows why.

ATU Price at posting: 16.0¢ Sentiment: Hold Disclosure: Not Held
2 Upvote

0 Great analysis

Reply