RE: no more purchases28 Mar 2019 21:40
Apart from below options, there needs to be be some sort of cost cutting on management salary, or current salary replaced with incentives based on milestones achievement. It is highly unethical to have such a high salary in place, when the value creation over the last five year is zilch.
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Scrap or delay HBR deal
Wait for $6m or Circum (whichever comes first)
Pay for KME by other means (loan account with KME or other debt) or after the $6m is in the bank, pay KME with shares
As soon as KME is paid, KME management will take over which will allow GR to step down
Delay AGM until at least 1 from each of the above happens. It will help us know many shares required to raise the share ceiling
Production targets for KME drilling or history of past performance required as a condition as part of the deal for KME