I was just looking at the OEX website and the statements Max has said about the new MD and this bit stood out:
"Joe’s key focus will be to seek resolution of the issues facing Oilex and to secure value from our existing assets.”
So essentially this is a salvage operation now to see what can be saved if anything and what needs to be cut loose. From my point of view it seems like Joe is playing a dual role as MD and Administrator. More on the side of Administrator hence the silence until he can work out what the old MD has done and release a credible plan to the market.
Under 1 cent again today... I wonder if it will get to 1/10 of a cent at some stage!
OEX Price at posting:
0.9¢ Sentiment: None Disclosure: Held