What a joke. Staff and admin costs for the year total $885,000. This is more than the placement of $735k. How are we going to move forward. We spent nearly $10million last year in exploration in Uruguay with no results. What is the concrete plan to move forward? Put aside Uruguay, how much do we need for Spain/ Australia? Where are we going to get the money? What is the time frame to achieving spud day? With company non productive expenses nearly $1million a year do you think investors are going to throw money into this company? Funds will not come our way easily especially when management is not even presenting a workable solution here. They are asking for further $1m but vague on how to spend it. Study? Drilling unlikely. What then? Wasting time is wasting our precious cash. Management needs a strict timeline in a workable forward plan. They need to show there is a plan, a timeframe in delivering before they can execute it. That’s why I’m very critical of this bunch of failed management. No clear plan, no timeframe, just taking their own sweet time. If you look at other company management actually sets out what they going to do, how they are doing it and when they will get it done by. Without any clear direction we are doomed.
PRL Price at posting:
0.2¢ Sentiment: Buy Disclosure: Held
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