Mate, I'm willing to bet you've never been a senior executive.
I did not buy at the top or at the bottom. I bought an exploration company that had a number of prospective tenements. I bought a company that got on with business.
On that basis, the price I paid, I considered fair.
The last six months they have done no effective exploration. They bought a tenement next to Andrada and thought they would just start drilling. What a cock up. Cash burnt and time wasted.
No wonder Andrada didn't want that land - it was in the wrong location. They thought they were clever.
They seem to prefer to be a company that acquires, rather than one that explores or develops. No doubt the plan from here is to buy some more tenements and hope there might be something on them.
A corridor they say. Good story.
No doubt that corridor would not include our existing tenements, if they were being straight with us. So nada out of Namibia so far. They are confident Namibia has lithium is about the size of it.
On the right path now apparently, but going to wait around for a drill. Weak. Promised a diamond drill months ago. If they were serious, they would have found a way.
So lots of talk and definely not a lot of listening - still can't believe they cut the questions from the AGM.
Given they have done nothing there, what have they done on these other projects? Looks like nada to me.
Frankly, they have too many projects. Far too many. And nothing gets done on any of them.
So, they need to be 100% on Namibia, or they need to focus 100% on Yarrie.
If divestment takes them away from focus on Namibia or alternatively on Yarrie, they need to stop that. I'm sure they enjoy that corporate stuff, but they are an exploration company. Get on with exploration.
This company is going to burn cash without reasonably prospect of ever getting a resource, unless they are actively focused on getting a resource.
That's why there is no market for AS2 shares - cash burn and no action.
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