RE: Nothing changes13 Apr 2020 20:16
Barney. It’s only a few months ago that we found out, after being told Chariot had no financial commitments, that we read in an RNS, that we were $6.5m short on our projected cash position. It was only because I noticed it and I think Precious asked on a conference call, that it was admitted that it was an unknown (to private investors anyway) cost commitment of a previous drill. I only say this as this wasn’t the first time over the last few years, that Larry speaks with a forked tongue. So, you may see the last RNS as literal. However, there are many of us who can read between the lines.
To summarise, do not take ANYTHING that comes out of Larry’s mouth at face value and without caution.
Yes, they’re cutting costs but by when? Yes the BOD’s are swapping salary for shares but as we know with Larry’s deal, it’s not exactly a sacrifice. The fact that a non-producing, perennially failing BoD’s is paid so much anyway, is a constant kick in the balls.