My thoughts: - Turf or restructure to a smaller management team - Implement independent board of directors - Remove contractors on site - Farm out the operations and maintenance of the assets to reputable companies with proven track records and construct a performance based remuneration structure for them incorporating full or partial farm out of operational cost-over-run risk (I have a few Aus companies who could potentially look at this)
Benefits: - Lower overheads - Direct costs compartmentalised - Reduced risk of dilution of shares - Skilled people who have a proven track record - No further issues of independence on the board - Open up the path for great reporting to the market for interim share price gain
Disadvantages: - Management no longer around - RIsks in the transfer of knowledge - If management also have 50m shares cumulative, could cause a succession of EGM (subject to the ASIC rules)
I welcome your thoughts on the matter.
Andy
NWE Price at posting:
1.1¢ Sentiment: Hold Disclosure: Held