Our company is grossly undervalued at the ridiculous share price of 1 cent. For a company with a number of excellent prospects, with low risks deserve to be re-rated and priced at a higher value.
I do realise that over the past 12 months, our management appear to have been moving slower than snails. Although in some instances our management is at fault, we have to realise, that we are at the mercy of the operators, and unable to make things happen.
However, in the case of Fausse Point, our management is to blame, and should have taken action months ago. When we obtained the 72% stake in this project, GGP should have been replaced as the operator, due to enormous length of time taken to re-exam the seismic data. Unfortunately we have been taken for a ride by GGP, but at this point, it is too late and would be very expensive to go with another operator.
On the bright side, Andrew has come clean on BRR, and updated us with the current position of all the projects, so as to know where we all stand. The most important item that came out of the interview, was that we have enough money for all projects. THEREFORE, THERE IS NO NEED TO RAISE ANY FURTHER FUNDS.
As we have been waiting for such a long time we need to exercise patience, which is extremely difficult to do.
Best of luck to all.
VIL Price at posting:
1.0¢ Sentiment: Hold Disclosure: Held
