Sarg, rash over exuberant statements would be one thing. Failure...

Sarg, rash over exuberant statements would be one thing. Failure for the past 6 months to even outline a detailed game plan going forward, to shareholders & the market in general is another thing altogether.

Despite all the good results released in calendar 2018 the price is now at a near 12 month low. It is just a cop out for anyone to say the company has no control over how the market will price the company's stock.

Peel's share price is to a large extent a reflection of Peel's actions. Leave the market wondering what the hell you are doing ( with long periods of silence between releases ) & hope to achieve & the price will be punished. As it has been for close to 6 months now. Hindsight is a useful tool. Failure to take notice of it & continue on repeating the same mistakes month after month is a failure to learn from ones mistakes.

So now we have a situation where money is being raised at a price not seen since October 2017. You are somehow implying that the company is doing us all a big favour by allowing to to buy cheap shares in the rights issue. B.S ! The issue is priced so low because the share price has sunk. I would much rather the share price was north of $1 & the rights issue priced accordingly.

As Smoking mentioned the company has a very good idea months in advance of what expenditure will be going forward. They have to. Forward bugetary planning is one of the most basic requirements of management & directors. They damn well knew months & months ago what levels of expenditure would be required to advance the project going forward.

It is a fair assumption to make that the major shareholders are possibly getting delivered a more thorough briefing about the game plan than the rest of us. It would beggar belief that they would leave the current management & directors to continue operating the way they have, if they were not.

I will be the first to stand in Robs corner & defend him when it comes to exploration results. But so much else leaves management open for criticism.

I may sound unforgiving. But this is a very unforgiving business. The ASX is littered with good companies that have wonderful projects. But whose share price has been punished due to the shortcomings of their management.