naturally I have no advice for anyone however my opinion is that we will lose several million dollars at Telfer and that this was supposed to be the 'easy' money making type of drilling. There are a number of things that as mentioned in the thread should most likely have had public disclosure. I will continue to hold based on the potential. The issue is to date that they have no expertise and refuse to purchase the necessary equipment. Key personel they hired are leaving. I know WS attemped to hire the rig for o/s work at the figure mentioned by another poster but this doesn't look like being accepted. Why the management and board of this company believe they no more about drilling and the rig than WS is simply astounding imo.
It is possible that personal agendas have got in the way of sound commercial decisions I guess however all parties no doubt want the best for the company.
In all fairness I don't think we are drawing a long bow when we say that so far the board and management of the company have failed to deliver and if Cygnet are happy having raised cash at 17c then there must be another agenda. If they are not happy then as the major shareholder they should do something about it. I would like to know what Cygnets intentions are?
CKK Price at posting:
5.0¢ Sentiment: None Disclosure: Held
