RE: Are the board still playing a blinder?1 Mar 2022 22:43
I broached this question about 10 days ago and a lot has happened since. There were a few of us that dared suggest that the BOD needed to pull their fingers out and get the deal over the line as we were in potentially volatile times with further black swan events liable to be just around the corner, and this was reacted to quite harshly by the sycophants that were so far up the BoD's backsides they could see daylight out of there mouths. For me, the respect I have for the BoD is dwindling more and more each day. Theyve proven they can build a minnow into potentially a major player and I acknowledge what they've done there, but with the time this deal has taken to complete when you've got the best deal makers in the business behind you suggests either the decision makers are unrealistic in their expectations, naive to the potential of the deal going **** up or amateurs and out of their depth. Where I've really lost the respect though is the lack of real communication over the last couple of weeks. Fair play, if the SP is holding up, you've build a business with potential to be a 'major' and you're doing a deal behind the scenes and looking to deliver s/h value id be inclined to say you've earned the right to keep your cards close to your chest. However, the right thing to do now is to put the s/h in the picture with how their investment currently lies. What is the status of the reports from WAI, the licences, how progressed are the legals, has the interested party/ parties got an offer on the table, what timescales are they putting on completion of their strategy? It hardly matters to the SP now if they fail to hit their targets, all the bad news is pretty much priced in.