I rang the company in London on Monday and asked to speak to Rob Sherpherd, the Interim CEO. The receptionist told me that he's on his way to Australia. She advised the reason was in connection with his role as Interim CEO.
All the other directors were presently out of the office so I've since spoken to the 2 PR machines both in Australia and the UK.
Rob Shepherd is apparently in Australia talking to investors about the company. I expressed my concerns about the falling share price and the answer was that the board is well aware of shareholder's concerns and is doing all it can. I also asked the WA PR machine to pass on concerns in relation to funding options and he said he would.
In my opinion, since recently becoming a shareholder, its hard to speak to any of the directors. They must be very busy...On 2 occasions I've been told that they were on other calls and to ring back shortly, only to ring back and be told that they weren't available.
I question the cost of having 2 PR machines and highly paid directors when the share price performance has been dismal..
RIA is now ridiculously priced by the market and continuing to fall day by day. I put it simply down to uncertainty over funding options.
I'm hoping that the directors will show faith in the company by buying stock but I've seen little of this of late. I also wonder whether the brokers with bullish views on this stock are buying?
RIA has strong potential in both the Ivory Coast and also Ghana but now needs to address the funding options.
RIA is falling towards its cash backing. Basically the market is putting very little value on its assets and potential. I wouldn't rule out corporate action at these levels.
News of any JV partner is likely to be well received by the market. Should there be a CR in the not too distant future (I'm speculating here), I hope that holders will be given the opportunity to average down should they wish to. But given the current negativity towards RIA, I wouldn't be surprised if a placement is undertaken instead.
I rang the company in London on Monday and asked to speak to Rob...
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