Given the wasted money of the UK and Australia assets, the twice funded but never drilled Lidsey #2z and the bargain sale of 75% of our share of the Nyuni PSA and Kiliwani North Development Licence it is clear that this deal is the board throwing in the towel and giving up.
It is clear, in my opinion, that they aren't up to the task.
The board would need to mount a very compelling case for me to vote for any of their resolutions, although even if they did, given their track record (eg the board supported the latest capital raising but put in stuff all of their own money) I would probably still vote against them.
KEY Price at posting:
3.1¢ Sentiment: None Disclosure: Held