you would think that the instos that are still invested would be starting to ask what the hell is going on with the guys running this. it looks increasing like a capital raising will be needed to pay for the port etc.
its a pitty that management didnt tell shareholders back in December that they were planning a raising before the proposed March start date. how many more times are we going to let these guys get away with being incompetent?
i dont know much about iron ore and mining etc, however sometimes i think i could do a better job than the 2 guys running the show, i mean we are paying them around $400k each per year and what have they acheived? other than missing deadlines and being unable to get cash from the chinese even though they have been trying for the last 3 years?
by my calcs the 2 guys running this have paid themselves $2.4m over the past 3 years and the project has gone no where and they are still sitting back collecting. yes i know they both have a big chunk of shares, but they have been getting paid way too much for what they have acheived. its time they either get a deal done that doesnt dilute us or resign, sell their shares and go away and let someone else have a crack at it.
you think ASIC would start looking into all their claims that have fallen over, i have lost count of have many dealines these guys have missed.
AXO Price at posting:
30.0¢ Sentiment: LT Buy Disclosure: Held
