Geoffs you ask the pertinent question, does the board of directors and senior management of LSG have the background necessary to make good on their many, ever lowering, projections.
Those with an interest in this question should examine the profiles of the board of directors and the CEO on LSG's website. Overall, there seems to be an indication of experience with running parts of mines. However, it would appear that the CEO's experience was mainly that of a project manager without any indication of having ever managed a whole company. There does not seem to be any indication of experience in Financing and Strategy Formulation. Do these apparent absences of experience help to explain the publized series of fantastic plans that have still not yet been achieved? Or, the number of unanticipated financings that seemed very expensive and almost desperate efforts, resulting in significant dilution in shareholders' equity?
Similarly none of the directors appears to have been a CEO of a major corporation(unless you count a door manufacturer and numbered companies). There is little sign of finance experience, unless you count accounting auditing and income tax. Does thIs board of directors appear to have the capacity to help guide the CEO to lead a public corporation like LSG, the experience to challenge his plans and to hold him accountable for his performance? Does this board have enough strength to face the question of whether the CEO should be replaced?
I do not have the answers to these questions. But, they ssem to be essential questions for shareholders when considering how their investments are managed and protected.