LB you are spot on. It does make perfect sense what you are saying.
If nmdc is keeping Legacy in the freezer until it decides to do something with it then they ought to also treat Legacy's cash reserves in the same way. Freeze it too!!
Didn't the board members say that they don't get paid at all? I thought that's what I read before? If the board is costing us unnecessarily then that should be trimmed too. Cut down to the minimum number required or keep only those members not getting paid!
Agreed also that they should just cut back on their crew here to house only the absolute essential personnel or replace with cheaper alternatives and perhaps just keep the lights on until there is a reason to be paying salaries again. Many asx listed juniors are now doing that anyway... Cut costs and the CEO does everything himself!!
Nothing wrong with that in the current environment. Makes no sense to be maintaining more than two or three people in the office if there is nothing much happening (unless nmdc is good and ready to grow Legacy now). How else can they justify paying anything to the Legacy board or to keep more than two or three employees on the books?
If nmdc was proactive, now would certainly be the time to be getting their hands on some really cheap assets here.
LCY Price at posting:
0.4¢ Sentiment: Hold Disclosure: Held
