Blowing money on a 2% NSR at this stage of development is a farce.
The aim of any would-be producer should be to get to production as soon as is possible in order to start generating cash, rather than raiding shareholder pockets.
They had a plan their to fast-track one particular part of their project portfolio into production, the 'dig and truck' option - and that seems to have gone into file 13 with no explanation given.
They have an absolute embarrassment of riches as far as the projects on the books, with Southern Nights having been heralded as a major discovery, but there is a total lack of drive to go forward with great strides.
Once deadlines for a PFS are repeatedly missed, heads should roll. Or would be in an outfit absent of hidden agendas.
36c Rights Issue, page-42
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