So true Henry, well said. We all know how much potential A40 has, I've got doubts, we'll see it through to full production, under the current regime and structure. I have to say I'm very disappointed with the outcome, thus far. That said, if A40 shareholders end up with GXY shares, that's got to be the second best outcome, with a longer term view to actually getting return on the funds poured into A40.
After considering A40's path to destruction and how funds have continued to be burned, the burning question is, could this current position have been prevented? Clearly C&M and stopping drilling, wasn't an option, to mitigate cash burn, why not? BOD had an alternate motive I'm sure.
Surely management we're watching the bottom line, or was the plan already hatched by the time GXY brought in?? I guess we'll actually never know! Makes shareholders look like fools too, to our defence, our decisions are some what made, on the stories told by our illustrious leaders. mmmmm how to have faith in BODs again?
There really is something to be said for performance based payment to management, perhaps a retainer system at a nominal rate has to be introduced. And only after the company is producing and making sales should they scale up to the ridiculous amounts being paid for failures. If it's any consolation, this needs to apply across the ASX IMO, a lot of the mums and dads investors may just see something for the monies poured in to companies such as A40.
Something to ponder, I'll let you work out how much, one has to earn, to be able to invest 30k into the likes of A40, to find its now worth a pittance. Where's the incentive to invest? Does the BOD give a continental? I don't think so.
One also has to question, how the BOD can put their hands up for future roles.
AIMO DYOR
A40 Price at posting:
8.2¢ Sentiment: None Disclosure: Held
