What a bunch of numb nuts. They turned shareholder cash into royalty streams so they can pay their own wages without it looking like they are consuming shareholder cash. By my calculations, for a risking income stream, WE are receiving a ~3% return (better off in a term deposit). And at the end have to pay back $2.6 million (US), which we don't have.
It seems to me that management's strategy is to sit around getting paid high wages whilst doing little apart from waiting for others to do the hard yards (i,e, drilling and exploration) and hoping someone comes along who wants to buy the little remaining acreage we have left.
PGS Price at posting:
0.5¢ Sentiment: Hold Disclosure: Held
