I have MANY CONCERNS such as the obvious imo, like our excessive cash burn for admin, staff and the obscene remuneration being paid to Management/Board and even the Secretary... Then the huge performance shares given to them ALL after SP collapsed daily over past 12 months, then they stuffed a director appointment which cost us ALL another $500k to break her contract imo.... WTF!!!! We are almost broke again come end of Sept 1/4, as we burn $500k a month!!!
Then we had that terrible SS release (hardly any reserves quotes) and importantly another massive concern was the unacceptable time to get and release the bleeding ML which was a totally unacceptable (I acknowledge mainly out of IXR's hands), so NOT waiting anytime this year for FS, YAWN!!!!!
Only going to get a lot more difficult with a company SP at sub 0.005 -1c especially in this very uncertain economic climate and many countries will go into recession imo....
CR will certainly be presented once again and at all time SP record lows, sub 0.005c is possible, which is a disgraceful state of affairs and this board/management have to be held to account and return ALL bonuses, pay increases and those terrible free performance shares, better still resign imo!!!!
SP should always be a main weighted factor to KPI's - WRT remuneration, bonuses and bleeding free performance shares, just proves to me how detached this new team have become away from SH's and SP imo..... We need big changes and now!!!!
IXR Price at posting:
0.8¢ Sentiment: Hold Disclosure: Held
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