That's worse rosy..?$90,000 on $500,000 is 18% returnfor 2...

That's worse rosy..?

$90,000 on $500,000 is 18% return

for 2 days?
That makes it 3285% return pa.

We still paid 3285% p/a interest rate, for a loan we had for two days which results in costs of $90,000 when we paid it off (2 days).

The $90,000 is actually of little use in the equation/discussion. The interest rate is.

Would you buy a TV or car on these terms....? I can sell you one...tomorrow :)...I'll sell you 10,000 anything on those terms.

NO RISK / ???? Reward

Every financial transaction of this nature should be analyzed on the value of return over a year. Poor call to do otherwise.

Generalization:

This is a major problem with loan sharks at the moment...not annualizing financial documents so those that need the loans get sucker punched and end up worse off.

Similarly is the 60 months interest free deals and stuff from shops....really?.....ahh, definitely not...LOL

Mobile Truck shops hitting poor neighborhoods...same process. Credit sharks. Buy now, take with you, no money down,
$20.00 for 10 weekly payments (repay $200.00), real cost $100.00.
You pay 100% for ten weeks of $100 credit....Whats your interest rate?
520%pa

The ability to make the same money work more than once.





But don't get me wrong...I fully hope, and think that Share holders today will be better off soon.....just think the deal stinks and some are blind to the REAL deal.

Wording doesn't add up either....if there was so much interest and support, government support....Why didn't the Government (someone /anyone else) just loan them $500k at 5% PER ANNUM?

Nothing can be changed now....we are on the way...But doesn't mean I agree or condon this sort of performance management.

As material in nature, the requirement of it, should arguably have been announced. The first delay I know this aspect was discussed.

I forgave them for the bank account errors...this...really not a good look....Sorry, that's my honest opinion.

I consider the inability to "face the music" when poop hits the fan as poor leadership....regardless of the Company, Boss or worker, Job or situation it develops in.

How much do we pay for professional performance. Far too many willing to accept sub-par performance at GOLD MEDAL prices.

Bet there's some hoping project advancement will cover and this will all be behind them.

Not trying to be aggressive...I'm just passionate on exemplary standards being achieved.

Anyway...Onwards....Spud Date guess
Mid/End-January 2014 (*Due to time to transport rig, set up, test then Xmas and New Year)