I am also frankly concerned by the lack of purpose and direction...

I am also frankly concerned by the lack of purpose and direction shown by management, or at the very least, the perception of same in the market. If the strategy is: "let IGO do the drilling for us" ... well, that may be fine ... but it is still costing close to $400K per year just in remuneration to sit about (and a loss of $1.7m). To their credit, two directors have waived their director's fees in 2014. But, even so, if the strategy is do nothing, then $400k per annum for remuneration for doing nothing is still too expensive, and changes should be made. In my view: Do more, or do less.