failed rights, failing company, page-2

Time to get rid of the board, and the MD. Surely the major shareholders must realise this company is being abysmally managed? The lack of information on what is going wrong at Smokey Hills and what is being done about it to make it cash positive is absolutely appaling! At least the failed rights offer is one strong message that has been sent. However, without the cash, it is one more nail in the coffin of PLA, another month or two earlier that they will run out of cash next year and go belly up. It might be too late to hold an emergency meeting to get rid of the board and bring in some experts to get out of this mess but if the biggest holders don't try they (and we) are almost certainly going to see PLA go under within six months.