Smity, I looked at these guys in Feb and posted here I thought...

Smity, I looked at these guys in Feb and posted here I thought the share price would be belted due to cash flow and poor management. I thought then the problem was not JC or AD but the others on the board. Now after JC has gone, it seems I may have been correct, with JN now seemingly "running" the show when you read the announcements.

I still think they have great ground however there is a town with 25,000 people smack in the middle of it (have a look at google earth, the reason the grades have a "hole" in the middle is there is a town there) so unless you have top grade people with good experience in Africa, you are in trouble. So far the company has pinned its hopes on some apparently talented young people with no African experience (I do feel sorry for them) and some Australian based board members who are not where the action is.

Clean out the board, get some talent in who have developed projects in Africa and you might have a show. Until then, I sit on the side watching and waiting. Basically, no matter how good the resource is, without good people, it will amount to nothing. Until you have a shareholder revolt and clean out the board, I am sorry to say your SP will keep going South.


PS, have a look in the company report last year on the $$ paid to a board members law firm. To me, that much work is an "executive Director" and should be done as such. I will be interested to see how much is disclosed this year.......