Hi Hummms. Not sure I know what you mean by "looks like they have answered concerns and the directors are returning money". I know they are back in town but I assumed there was nothing to report from the China negotiations as here have been no announcements - I assumed they didn't complete anything. If they did, it surprises me but I'm happy for you.
Re keeping the show going for as long as they can - that's normal with juniors, so they are no orphans. It would be naive to think they don't do that. And why not? The MD gets paid half a million dollars a year, and the two assistants get around four hundred grand from memory. That's before options so it's risk free for as long as the party continues. And there are millions of options (not one that is in your personal interest) which strike at 16 cents. It's only human nature that juniors keep going long after they should have been put to bed.
The rest of the stuff you can look up easily. You might have to analyse Sentient a bit because that is the chairman - performance options, shares in other names, related party transactions, etc should be taken into account but easy to do if you want to spend the required time.
My research convinces me time and again that here is no way this massive project can get off the ground unless shareholders are diluted to almost nothing. But I understand you have the opposite view, so good luck with your investment and I do hope the directors made progress with funding during their trip to China.
IRD Price at posting:
17.5¢ Sentiment: Sell Disclosure: Not Held
