I've been out for the last hour and I believe its encouraging to see that the market has recognised that this company does have legs and real value; - it's just a shame the legs tend to be wobbly every now and then but today's news isn't as impactive as many believe.
I penned a polite email to the Bod about the delay and here is my reply;
"Thank you for your sensible email.
As you mention difficulties happen sub-surface but it is a frustrating delay.
The audit process progresses well but Im sure you can appreciate it is a sensitive process, there will be news though on the final recommendations by Deloittes. Further dilution is not on the cards.
But how long have we been saying that? How many targets has Foo set & then missed? If they are unrealistic deadlines ....why set them? Think how much progress have we really made since the process plant was commissioned. If you persistently miss your targets ....it's a commercial mess. Profitability & share price goes backward, the company runs out of cash / the BoD have to call on shareholders for more cash......as they have done on multiple occasions. We get dilution etc etc....
You have more patience than me! If I was a controlling shareholder he would have gone many years ago!!
Total Squit.. To put a gas company together from scratch is no simple matter. Do it in AFFRICAAA is almost a miracle.. Time goes by but another few weeks or months does not really make much difference...
I wonder when. Been sitting on this for the last 4 years, well I'll give it up to 10 years, but i may have passed on by then. the good thing will be, my children will get them, and as they will get them for free, they will be in profit. Tra lala Is PB still here
I learnt a new term from last weekend's Sunday Times: "LIFESTYLE COMPANY". Where a group of mates manage to raise enough cash to pay themselves well......they don't make money / they just right cheques / there is casual disregard for shareholders.
Let's get a management team that can run this business profitably - for the shareholders - for the owners - for us!
Ahh the good old days. No more PB, No more CM, Beginning to resemble TSCO. Losing its bubble. Still had a nice time on the Avon and Severn and found a good pub on the Worcester to Birmingham... Life moves on.. TW is a very sober bored now.. and I feel a touch sad for the barmaids..
I think you're right. "Equipment Failure". This will be the American Auger - which when delivered looked like it was already on its last legs & some employees thought it was not even the one that they had intended to buy! So a pile of !!!!!.....palmed off on to Britannica ......who are contracted to do the job on the cheap. That is what Foo has done......another example of inept management. He should take responsibility ..... these repeated failures and delays can not continue.
We will wait for another 3+ years before this management team make any progress.
Please - Time for serious change at the top. Foo should go. He has to take responsibility for 10 years of failure. Why do we tolerate him???
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