Doesn't look good on paper Axiomax. In the quarterly update 8th Feb they stated a significantly reduced workforce due to a down turn. Were these workers retrenched? Do the employees benefits include those payments?
I feel the company needs to breakdown that figure, if in fact it has increased due to payouts incurred from a reduced workforce then imo it would be prudent to release that information to the market.
I feel they have a future due to the cost of finance and construction bought about from the NFC tie up however doesn't mean squat if they can't execute and benefit from those reduced costs.
AZG Price at posting:
8.9¢ Sentiment: Hold Disclosure: Held