Can't believe there is not a buyer in sight, the share price looks like we have the plague......
As a share holder who a been in this stock for some time I'm a bit confused and disappointed where sunbird are at.
Management seem to be paying themselves extremely high salaries and haven't really delivered. We are now going after an asset that we can't fund as opposed to why I invested originally.
We are supposedly trying to do a deal with Eskom, which from my research they look like the only buyer in the South African market - doesn't really create much price competition, I also think management have gone down the wrong path entering into a $5 million debt facility and handed over security over the assets. Since this facility has been announced the share price has flatlined and I don't know how the company plan to pay off this debt?
I'm even more concerned that they haven't disclosed to shareholders the terms of the debt - I can only assume they are very bad terms otherwise why would they be hiding them?
Just my thoughts, anyone else been watching this lately??
Good luck to all...
Can't believe there is not a buyer in sight, the share price...
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