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clock Created with Sketch. 27/02/24
13:23
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Originally posted by camban:
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I don’t think they will delist - these prolific ASX small cap managers & directors have every incentive to keep the company listed and capable of paying their ongoing salaries & fees & freebies, whether they are profitable for the retail cash-paying stockholders or not. Having shareholders in the dark is a help not a hinderance to them while there’s still cash in the bank account to bleed.one year without trading is an absolute shocker, and PRL opaquely slating the blame for this via their proxies onto everybody else (including ASX) except for directors & management is imo pure gaslighting. The stock is suspended - and ASX is probably dragging the chain - because the company directors failed to meet listing obligations , including having the strategic foresight to manage the sector switch years ago before being pulled up on it. Meanwhile, with the door sealed shut, they are still sucking the cash reserves as if they are all working 40+ hours a week, issuing performance rights (“performance” lol), while the ability of holders to exit (or enter) in an orderly fashion is non-existent. Over the course of a year stockholders might feel that sector sentiment has shifted, project economics might have changed, the wider macro market & political environment has almost certainly evolved, or even just their personal circumstances or individual investing thesis has altered. Some shareholders may simply not want to be in this space or financially tied to these people any longer, and so trading stocks on a public exchange is supposed to enable an easy in/out, rather than having people locked in against their will. Instead here we’ve now got what resembles more of a personal fiefdom than a public listed company that is making timely disclosures.
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Thanks for sharing those info mate. The thing is they only mentioned trying to relist in ASX in the first couple month after the PRL went into suspension. No single word or timeline about the relist in last two quarterly reports. On top of that, they haven't published those two PFS.
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