Barry absolutely deserves the criticism received. He has spoken like a fool - a court jester.
These global and local events have unfolded before him, as they have for us.
Barry is in the position he is in specifically to understand the macro and micro economic trends that not only affect the industry, but the very company for which we are shareholders. Having an understanding of what pace to proceed at, knowing full well that interest rates were going to rise because of the inevitable inflationary environment, meant that securing finance was imperative earlier this year. Finance will unlikely be given the go ahead until the signs of an economic recovery are evident.
Barry is responsible and accountable for every word that comes out of his mouth, and much of that recently has been foolish.
Ultimately, we as shareholders are also responsible for our own investment in this company - however, the important lesson that Barry can take from this is simple - give bad news early. Allow shareholders the opportunity to decide their own fate.
Barry is not only a poor leader - but borders on an incompetent one. I struggle to see how he heads up this ~$50 million company with the interest of its shareholders at front of mind, let alone a $1 billion one.
CYM Price at posting:
7.0¢ Sentiment: None Disclosure: Held
