re: Ann: Atlantic Secures $41.7 Million In Ne...
The MD has made the mistake of falling in love with a project, believing his own press, and enjoying the smoke others have blown up his backside. The half yearly points to insolvency unless they can raise cash. Since they can raise cash (albeit at loan shark interest rates) they can not be insolvent.
The directors leaving is bad and shows much dodginess. It takes a lot for a director to quit - ASICs record of prosecutions is so low it's barely a risk. They are leaving to keep their reputations.
ATI Price at posting:
76.0¢ Sentiment: None Disclosure: Not Held
