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13/04/15

13:24

Post #: 15076958
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Originally posted by Aussie Joe ↑

Good luck with your investment Humms. I don't wish you ill fortune. Just reckon that too often, management hangs on because their immediate short term interests (great salary, sweet benefits, company expense account, prestige, etc) supersedes the long term interest of small shareholders (who can conceivably see their investment obliterated when action is taken too late).

With projected costs at the same level of expected revenue ($46 per ton), there is minimal profit at best - most likely, a loss.

Therefore, the blindingly obvious fact is that $4 billion (yes, with a "B") capital investment is simply out of the question. How can they raise that sort of money on a project that can't repay it? Surely you agree? If so, the right thing for the board to do is:

(1) freeze further expenditure,
(2) avoid borrowing simply to "stay alive" and provide management and directors a lifestyle benefit,
(3) mothball current operations to be able to revisit the project if IO price ever returns to $100 a ton,
(4) & thereafter, return excess cash (if any) to shareholders.

Just my thoughts but for the sake of small investors, I hope that I am wrong. Good luck.

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Hi AJ,
Looks like IRD has answered all your concerns.
The Directors decide on return of money.
How much are they extravagently being paid ?
What % does Sentient hold ?
What does LOI mean ?

IRD Price at posting: 9.0¢ Sentiment: Hold Disclosure: Held
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Last 6.0¢		Change 0.000(0.00%)		Mkt cap ! $54.92M

Open	High	Low	Value	Volume
6.0¢	6.0¢	6.0¢	$3K	50K

Buyers (Bids)

No.	Vol.	Price($)
2	28797	5.8¢

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Price($)	Vol.	No.
6.0¢	10352	1

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No.	Vol.	Price($)
1	10000	0.068
1	10923	0.065
1	10000	0.055
1	19588	0.051
2	360000	0.050

Price($)	Vol.	No.
0.080	108459	2
0.085	124933	2
0.090	111119	2
0.100	1206	1
0.105	70000	1

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