The most indicative detail of their management incompetence is their abject failure to not only understand what is going wrong at Smokey Hills and fix it, but also to communicate that they know what the issues are and are on top of them. To me, that is a clear flag that they still don't have a clue and hope to bumble through. With the failed placement they asked for shareholder $ to prop up a failing mine with no indication of a plan to move toward profitability. The shareholders responded accordingly. Now here we go again, just at a lower price. For me, throwing away 8c is no better than throwing away 12c, so I will not be partaking in their offer until the board and MD resigns and is replaced by a team that clearly grasps what needs to be done and does it, and communicates the steps at all times along the way to the shareholders. I've see worse companies turned around by major shareholder mutinies (St Barbara for example), about time we had the same for PLA.
PLA Price at posting:
8.5¢ Sentiment: Hold Disclosure: Held
