Captain? Empire to turn the ship around? lol J*s*s, they have been the problem all along IMO. Who do you think started IDC with the help of a couple of others? No-one wants to lend them money anymore IMO. The only plausible explanation for the company listing on the ASX back in 2010 IMO was so that the Farleys could milk the cow at home. That's right, the company should have been listed on the TSX because they already had a Canadian compliant resource. It would have been easier and cheaper to raise money over there for a BFS etc, creating more value and less dilution. But no, they planned instead to raise and waste money on a re-drilling campaign to satisfy an ASX JORC. And to drop Kingsgate as a JV partner? Well to this day shareholders never received an explanation as to why that was the case but it seems obvious to me now. The company's only saving grace was the later appointment of Tony Burgess IMO, who constructed a geological model and may have said to the board and management why have you not done this earlier? Look you dummies here are some high grade zones. Then BR joined the chorus and may have said to SP forget about the PFS and OC plan, why not drill directly into the HG zones, I'll chip in some major coin, let's get this thing done. But of course with SP and Empire at the helm things went sour quite quickly after that.
Regarding your 6 points of speculation, I would go with point no.2 but would add that I believe that the major shareholder forcing the issue is ACM, after all Craig Dawson remains on the board....doesn't take an Einstein to join the dots.
I would also speculate that Ashok & Empire's days are numbered but that the major shareholder/s couldn't induce all resignations at once. Somebody still needs to open and close the doors each day until the transition is complete. Interesting that Dermott McVeigh and ACM are both Perth based. I wonder if they knew each other beforehand? I would speculate that once Empire and Ashok have departed then the Sydneysiders will be no more and the company will relocate to Perth (where the real miners live). The jury is still out as to what the future holds. With no money left, the company may still require a small CR followed by a shiteload of funding and some major TLC to nurse it through the next few months. The outcome is still highly speculative IMO but I continue to hold.
Of course I could be completely wrong re: all of the above
Note: my opinion should not be relied upon nor considered as advice of any kind. Please DYOR.
