I have been, and continue to be a critic of our management. On a number of occasions I have suggested their removal due to incompetence.
However, the blame for the ridiculous share price of $0.001 is mostly due to the grossly misleading statements made by ADX regarding Sidi Dhahir where this project subsequently failed. Of course, the continuous delays with Fausse Point has definitely not helped at all.
The recent VIL announcement stated that GGP is finished as the operator, and a new one is being sought, which I concur with. Now that the VIL management have full control of the FP project, they cannot fail again, and this is definitely their very last chance.
Funding will be a big problem, with the options being (a) share purchase plan, (b) placement, (c) farm in, (d) deal with new operator. Hopefully, for the sake of all shareholders, Fausse Point will be successful.
Fingers and toes crossed.
VIL Price at posting:
0.1¢ Sentiment: None Disclosure: Held
