who would you put on the board?, page-7

Cheers HT1 but in fairness I think we need to explain a little its an almost impossible task there is no rational way to make it happen.

I seem to remember a certain 'TheStockGuru' who's fully suspended from HC for years now, calling for an EGM and offering himself up for election to the Board.

Put simply - it can't be done!
You can't just pluck someone out of nowhere to become a board member - there are rigid regulatory hurdles to jump.
In theory it's possible but the reality is that it isn't.
You need to get the instos behind it and they won't be a party to anything like this.
Unless of course it's an insto that requests it and in this case that's not going to happen.

The big problem that HC has is that little fish like us think it empowers us when in fact it means sweet .... all.
I also think it can be safely said that TB does NOT read HC and couldn't give a tinker's cuss about it.

I can't say I know precisely how a company board works but it seems logical that the CEO cannot act alone - everything must be vetted by the Chairman.
So in fact it's the Chairman who really calls the shots. If the CEO has a great idea then he would go to the Chairman and a board meeting would be called to consider the proposal if it were warranted. In the case of the board (or more correctly the Chairman) wanting to get rid of a CEO you can bet your jewels that any subsequent board meeting to discuss the sacking would NOT include the CEO.

So - most here without looking it up...............
Who is the Chairman at OZL?
And can you name any of the other faceless, lacklustre, inert board members?
I didn't think so!
So herein lies the problem as far as I'm concerned to a large point - I feel Burgess is being hamstrung by a useless board.
It may have been the board that insisted on keeping funds in $US and prevented him from going after SFR.
So why doesn't he resign you might ask - I say why the heck would he, he's on a good wicket and without doing anything he's not doing anything outrageously wrong.

And sure PNA is my copper company and it might be because they're both Gary's but I do know the CEO and Chairman's names at PNA. And I have great faith in them both to drive the company forward.

HT In IMO your remuneration policy would be hard pressed to work because the board can't control copper and gold prices.

Guys please feel free to correct any comments that you may feel I have got wrong.