I echo your comments. They are an absolute disgrace.
$156m raised over two years. Thats the cost of a new plant and infrastructure! Not for a refurb!
Their quarterly states they are expecting another spend of $32m this quarter just on development!
They spent $12.5m over the year just on "admin costs", thats $4m per quarter.
What company of this size spends $4m a quarter on admin costs?!?!?
Next quarter, you're looking at $5m. That's the kind of money you spend on exploration, not staples!
What's interesting is that their "spend" was normal back in 2010, before their first mega raising. Things have pretty much gone downhill since then. Easy money hey?
They need some serious financial advice.
I echo your comments. They are an absolute disgrace.$156m raised...
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