Re: overdue update
Witth an SRK contract of such magniture and importance, the normal course for any good businessman would be to have
performance clauses in effect governing every phase of the work with periodic update and time frame for delivery of the end results. This is also usually covered by a "performance bond" issued by an insurance company to the customer. If the contractor cannot perform for whatever reason, then the insurer is called upon to have somebody complete the work and they pay the tab.
In this case since there has been such a long delay, one can easily assume that there has been changes in the rules that were agreed by all parties concerned. There is nothing wrong with this avenue However, one must remembeer that our CEO has been blowing his horn good and loud in many directions stating results in briefcase, impending result shortly from SRK, three months followed by another three months etc & etc and never delivered on the promise results.
He must know what has been done to date and should advise the shareholders accordingly one way or the other. A little trensparency wouldn't hurt and it would relieve pressure on his credibility. He was contacted recently and everything is blamed on SRK. So why take the heat for them instead of telling what they are doing or not doing if such is the case !!!
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JMHO