Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.
If Strategic Natural Resources (SNRP) is to survive as a listed company and come back from suspension with any sort of credibility, it has only one option open to it. CEO and Chairman, Alex MacDonald has to go. Now. After this morning’s appalling RNS, there really is no other option. The funny thing is he’s only been in the job for about seven weeks and we are already calling for his head. I don’t imagine we are alone. With the recent resignation of the company’s Nomad, Allenby Capital, and news this morning that three non-execs have also jumped ship, Mr MacDonald surely has staked a major claim on next year’s Cesspit Awards. We salute his effort, but in the meantime the plank beckons...
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