Management runs the company. The board provides oversight, guidance and upholds governance (normally).The boards chief responsibility is what they have been doing for a long time and thats maintaining a relatively strong balance sheet...Managements job is putting it to use, they are both doing a very good job IMO with limited resources in a very tough environment. The option is C&M.
There seems to be a belief here that a new board will magically make things better, unfortunately they would have exactly the same responsibility of fiscal prudence and have absolutely no say in the price of spodumene.
Untill a start up producer is making a profit its dependent on raising cash some way or other and thats been done for better or worse, the outcome is always dilution in some form like it or not. Debt is not an option in our situation.
I still await a rational explanation from board bashers as to what they would do differently if they stepped out from behind their computers and wall of anonymity and actually had to deal with the realities of running a mining operation with no positive cash flow...
Cheers Whisky
(20min delay)