intresting23 Oct 2017 16:07
Chairman Mladen Ninkov commented, "2017 has continued the appalling conditions found in the junior oil & gas sector over the past 5 years and beyond. As outlined previously to shareholders, the seismic shift to renewable energy generation and the continuing supply from existing and previously excluded hydrocarbon producers, has made this sector untenable for the junior, listed, oil & gas companies. The focus of the Company now firmly lies in the hard rock mining sector where supply shortages are becoming more pronounced. Despite evaluating over 100 acquisition opportunities, none met the parameters set by the Company. The directors continue to actively scour the world using their industry relationships to discover the Company's next acquisition knowing the difficulty even this strategic pathway entails."