Management, page-3

CH4 you might be right...but you might be wrong as well... This is China...the company didn't receive cash but we don't know when management became aware of this...sure not good....but we'll get it eventually...partner will make sure of it. Also why borrow money from Macquaire when you don't need to...pretty solid interest rate from macquarie to boot. Delays with CRR...yes but they have been transparent with that...ODP for Linxing not off the agenda - they're still preparing it and are drilling more to determine economic feasibility and then will make a decision.
So what I'm saying is yes I think good management. You said they were lucky to raise capital but then criticise it. You say they should have used revenue received from sales...well they didn't sell that much anyway so even if there weren't delays with payment it would have made little difference. End of last quarter they had 22million in the bank, macquarie tranch oonly provides 50milliion with interest..I'll take the dilution hit...And finally the PSC renewal...yes it is due soon but you're having a crack without giving them the opportunity to deliver.
I can see why you would take the pessimistic perspective...this is a volatile share in a hugely volatile market..I take the optimistic view that I think the risk is worth the potential reward. I feel the company is in good hands..you call iit luck..I look at the actions and base my judgements on that.