RE: MFDevCo economic arguments15 May 2018 19:42
Sharelock m8, its been two years and if you go back through the ENGI historic RNS its probably closer to 5. Nothing! We have NOTHING to show for the placements over this period. No revenue and no new assets. I had high hopes for this company and have made some cash from it but could have been much more had NUOG been properly managed.
Im getting annoyed now because of the lack of progress. I think the BOD are taking advantage of shareholders and stringing people along and i cant respect them for that. People invest hard earned cash into these companies and directors must be held accountable for success and failure.
At present this business and this BOD are failures. Worse they have been allowed, by mostly retail shareholders, to continue to fail for many years without any sanction. Any business would have looked at the MF program and assessed viability. Even the best ideas sometimes don't work. We have pumped millions into this and we have NOTHING to show for it. I honestly believe the only reason we are blindly pursuing this MF strategy is because 50% of this company is privately owned. It wouldn't take an accountant to see who stands to benefit most should some field owner take up MFDEVCO's offer. I could have coped with this if we were all making money, we are not, but we are still pursuing the same direction whilst expecting a different outcome.
Just for reference it was Alan Minty who said we were two months away from news of our first MF deal. This was on a VOX podcast and roughly 18mths ago and we still have NO news.
I personally believe its time to get these clowns off the BOD and begin an honest, unblinkered assessment of the true value of MFDEVCO. Perhaps its not as great an idea as mr minty thought.
Also, for those expecting an MF RNS prior to Simons Canada visit.... Probably worth asking- why send him to Canada if we have more exciting things happening somewhere else.
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