Postmortem In the end we simply ran out of time. The debentures are due in 3 weeks and Betsky ran out of nerve with two days to go. It would've been the ultimate game of chicken and the retail holders were never in a position of power. Our management team out manoeuvred us one last time by springing the asset sale and allowing so little time for counter proposals.
Lessons to be learned. Make sure management has shares in the company so that their interests are aligned with the shareholders. Never invest in South African companies.
Things looked so promising, a bull market for gold, uranium in a favourable supply and demand situation. Congratulations management you managed to lose when the deck was stacked in your favour. If there is such a thing as karma .....
I'm a bit bummed out and sitting on a considerable loss. I know there are people worse off and I take no consolation in that. I'll be monitoring things over the next couple of days but it looks Nick Betsky sealed our fate. What was a long shot is now a near impossibility.