Maybe the aim now is just to row the boat round in a circle until SBM take pick it off at their leisure.
The total lack of urgency in pushing one project forward to generate cashflow is speaking volumes, and the market is giving it's verdict.
Doing stuff like spending big dosh to buy a 2% NSR is apparently the priority. It's a baffling decision for a would-be producer, but is tidying things up nicely for SBM for when they swallow this floundering fish. That was money that could have gone towards the fast-track to production. Every dollar is important at this stage. Purchase an NSR when you have truckloads of cash coming in the door from mining activities, not when it's coming out of shareholder pockets.
What can be done to force change? The people at the helm are obviously very cosy with SBM, and meanwhile the SP is down hugely from it's peak. Is the free-falling SP indicative of a company heading in the right direction(?) I wouldn't have thought so.
36c Rights Issue, page-37
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