As the SP today relaxes into 14 cents, I hope the board are keenly aware that shareholders are overwhelmingly unimpressed with just how poorly their investments in CTP continue to do.
If you’re reading this Leon, I suspect you won’t be getting a joyous reception at the webinar next week, with the following front and centre in most minds;
- why hasn’t the SP moved out of the 12-16 cent band it’s mostly been stuck in for the past 12 months, despite all the board changes and alleged good news we keep being told? What is being considered to change the SP status quo, because what’s been done to date sure ain’t working well.
- Why wasn’t more done to describe the Dukas potential in the lead up to spudding, and why can’t regular fortnightly updates be provided now, in an attempt to excite the market to its potential for this company?
- What is happening with the tie-in at PV13, and why didn’t it occur in April as previously advised?
- Why hasn’t drilling started at Range as previously advised it would in April? When it does will we get regular updates or be kept in the dark as usual?
No doubt the management team are all busy with the above, debt refinancing and investigating other potential opportunities, but keeping quiet isn’t helping the SP. It’s not rocket science (pardon the pun) to know that when there are no announcements for at least 2 weeks this company’s SP starts to slide.
There is a day of reckoning coming later this year in the form of an AGM, and if the SP is still below 20cents, don’t be surprised if heads roll.
