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Because if you look at the directors pay from last year only CF made a large amount. All other directors were in the 5 figure bracket. So 100k is pretty high an ask for them too
Quick concise action. He has no choice at the current cash burn rate he would have to stop at the end of Oct. He claims to be a financier, he did not get the finance, he failed. Then he has the cheek to buy e few shares that cost him a couple of weeks wages at 4p. if he wanted to give us confidence then why didn't he and the rest of the board buy £100,000 of shares each.
JR wake up he doesn't care about your shares he just wants the mine built and in his words "will do anything to get it built"
Excellent decision at this point to save as much money as possible then once the finance is secured they can be brought back on site and resume works, this suggests to me that the BOD will be attempting to sort out the finance within a matter of weeks as opposed to months as obviously the longer anything is slowed down the longer any delay will be.
Good to see the BOD taking quick, concise action, I really getting the feeling that they are determined to sort of this finance issue once and for all asap as the construction side of things seems to be going amazingly well. Well done BOD.
It’s not a surprise .. it was mentioned on reports following the last RNS , they where honest to say contractors would be laid off or at least reduced .
"The blame will probably fall at the feet of Her Majesty's Government and the local MP's will be getting it in the ear off the constituents / employees."
No it won't and yes they will.
I’m going to urge my local MP Robert Goodwill to share the petition on his social media’s to see how serious he is about raising the issue further.
I suggest everyone does the same
If this is true, unfortunately for those people it’s bad but the stock market, being as it is, will view this as a Co. knowing they have a problem and doing something about it. Which in their eyes is a good thing. They late buy might not have been a mistake!!! Strange world Big Bussines but that’s how it works.
Lay offs were inevitable.
Costs need to be reduced short term.
Let's sort the financing and get them back in work.
From the Gazette though SXX denies its half the workforce. That was a short apprenticeship for some. Shares could tank again tomorrow. Hope not
Just a heads up
No numbers but talking on a Sirius Facebook page contractors have finished many staff as of tomorrow.
This is the actual post
Matty Colman I don’t know a figure but there’s been a lot there won’t be much happening on here. The majority of contractors have cut there work force by at least half