I think that our current directors are not competent enough to develop the Fausse Point project. Having 72% stake, and being in limbo since 19/9/09, this project should have come to conclusion by now.
The delay to Fausse Point has been caused by Vil Management, as stated by the operator GGP on two occasions.
The appointment of Greg Lee on 1/1/11 as executive director to have "hands on" control of all VIL projects, has not been successful, as the Fausse Point project has not progressed at all, and the share price has decreased from $0.014 on 1/1/11 to currently $0.006.
When the company was contacted weeks ago, it was stated that a MARKET UPDATE on all VIL projects will be released before the AGM. To date, no company update has been released, and the AGM is on today.
Any comments will be appreciated.
VIL Price at posting:
0.6¢ Sentiment: Hold Disclosure: Held
