no tcf - I fully agree. 30% is crap result and I flagged a while...

no tcf - I fully agree.

30% is crap result and I flagged a while a go that that was likely to happen. Its just a sorry story. Like a said, extensions were never going to make a difference if the board doesn't put up a propelling case (other than needing money for corporate overheads).

Board needs new direction or just treat this as another shell and put some technology assets in it and "go again". A pro-active board would be nice.

More than likely board will blame the commodity market (which is a fair call to some degree - but not if it means the board sits on its hands for two years as it is all unfolding waiting for things to miraculously change on its own). I guess making no decisions of substance means nobody can be blamed for a making a bad decision.

I suspect the board will most likely do nothing again, and we will all sit here doing the same thing again every 6 months for the next couple of years until we get out of this commodity cycle.

Shame.