RE: mcap6 Sep 2019 20:02
25/7/19:
"Since our IPO in 2015, we have consistently stated that our strategy is to establish a portfolio where 80 per cent. of the Group's operations should be comprised of production assets capable of providing a stable income, with the balancing 20 per cent. of the portfolio providing significant potential upside, albeit at a higher risk. For the first time I am delighted to report that we are very close to realising that ratio."
"We remain a small and focused management team and naturally every week we must make decisions on where to focus our financial resources and time. Whilst Zoetic has dominated our commitments since the end of the last financial year, I want to assure our shareholders that our other projects remain as viable as they always have been and, even though work may have slowed, the team at Highlands has not lost sight of their potential."
Six weeks later, 4/9/19:
"in the coming months, it is the Company's intention to carry out an orderly sale or closure of its natural resources business, thereby freeing management time and financial resources to concentrate on Zoetic."
"As part of a financial review into the Company's operations, it has become clear that the natural resources business has several liabilities that will need to be satisfied, particularly taxes on production at its East Denver project and potential plugging and abandonment costs at its Montana operations (if it is determined that the project is not viable). "
So were those 80% of assets not "capable of providing a stable income" as suggested in July? Was it a lie? How very odd indeed!
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