IMHO time for the current team to go. Are there any big holders who could help dump the current board? How could they have let it get so bad, this reflects badly on not only ARC but taints other Australian explorers in the areas as well. Surely something could have been sorted out, sliding equity (no upfront cash) in the company based on progress or future royalties etc, etc. Pretty hard to go anywhere without the locals onside. Once they see a big pot of gold at the end of the rainbow I imagine they would back up development to the hilt. Sure, there will always be some sticklers who dont want any change, but they would get outweighed by others looking after their own and their childrens future.
ARX Price at posting:
0.8¢ Sentiment: None Disclosure: Held
