It's unfortunate for the CEO, what with the business being months away from finally generating revenue... but when key business partners and other substantial shareholders no longer wants to deal with the business as long as Pramoko remains the CEO? Not a hard decision to make. The sentiment in forums and the price movement suggests positivity.
How will it affects its ongoing business in the immediate term? Tawana is operating the mine, so nothing there, business as usual.
In the longer term, I am curious what will change going forward:
- Pramoko was looking to expand AMAL towards involvement downstream. This was something I am highly interested in. Would the CEO head towards the same direction? Or will he/she look to continual involvement upstream?
- Will the CEO be one of the substantial shareholders, or will they look to bring someone else from the outside?
Disclaimer: These are my own personal view it should not be used as a decision to solicit buy/sell activity. Use all information at your own discretion and DYODD. I remain bullish and vested for the long-term.
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