RE:RE:RE:Massive cash bleed So you're basically accusing management of exploiting investors' money to finance their lifestyles instead of developing the company. And you have nothing to back your accusations except stock price performance. OK.
There are of course "lifestyle companies" that operate like that. They are usually characterized by several of the following:
- repeated PPs
- no progress in the company's assets
- constantly issuing options and cheap warrants to management, and management making a profit by selling them in the open market
- excessive bonuses to management
I don't see those signs in Galane. Galaxy has been moving steadily forward, though it's been advancing slower than what management has previously guided. In part, this is probaly due to covid restrictions and lockdowns, which hit South Africa especially hard. Same thing goes for Summit - it's advancing slower than anticipated, partly due to covid.
Still, it seems they're always too optimistic when it comes to timing, so I don't trust them on that anymore. Unlike you, however, I don't believe management to be dishonest, and I think they'll deliver on their promises, albeit at a later date than originally expected.
Had they delivered on time, share price would be way higher. Since I expect they will deliver better going forward, I also expect share price to go higher in the future. So I think 13c is a good buying opportunity, but hope it falls a bit further before it turns upward again.