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Although good news about the reserves and rod installation it is already at least two months if not more behind schedule.
You can have huge reserves but getting out of the ground earns the profit.
The delay has spooked the market.
I was hoping for something on par with the one dyas deal.
Ot wont happen as they have no way of raising funds on the market and they have changed strategy to the crap AD plant business.
I know they are trying to be eco friendly but at the expense of shareholders.
Basically we have a board that do not really have a clue what direction they are going in.
The fundamental problem has been that the board haven't a clue how to run a company let alone make an investment that is profitable for shareholders. All of the problems the last few years have always been somebody else's fault never theirs. If they can turn this around all well and good but they seem to lack any direction with anything they have done. Are they going to chamge now. This is definetely the last chance they will have.
You can’t go fishing without bait.
Maybe they are bottom fishing.
Unless they can come up with some very good money earner I don’t really see much of a long term future here.
The AD plant business is a waste of space imo.
Decreasing margins, increasing costs.
The company we lent £1.2 million to is insolvent so repayment is very unlikely.
Given the so called experience of the board the last four years have been nothing short of a joke.
It can and should be turned around with more cash arriving soon.
However, I have my doubts given their track record so far"
I think the problem is that they did, however, they could not wait on us to get our Ruvuma monies so any deals have either not happened or the business has been done with another party.
Should be interesting what the board can come up with next to bring fast income into the company.
If they can at all.
The current market value values the AD plant business at nil.
The only way to get the sp moving in the right direction is to do a much larger deal that generates a lot of income and profits quickly.
We spent a million on legal and professional fees last year alone.
For a virtually dormant company that takes some doing.
They have sold the last of the legacy assets and have cash coming in.
This is now their last chance to rectify the situation.
If a further change of strategy is required so be it.