Your post and mine seem to be getting a cool reception at best,probably because it is deserved.However things are still not clear, so let's soldier on.Your post hit the spot.Let me enlarge and please all of you out there, feel free to yawn all the way through if you will.
The resolution asks us to approve the removal of JG as a DIRECTOR. The board of directors is ELECTED at the AGM. The MD is an appointed employee of the company who despite being unelected will still occupy a seat on the board as a director. His status I would think is "ex officio". Now we can assume that JG is now longer MD,yet does his ex officio status remain intact, and is it the removal of this which we are being asked to vote on,or if not... what? This total silence , lack of clarity and shroud of secrecy is starting to wear a rather thin. Therefore Bola, you have a point.It might well be in our interests for JG to remain on the board as an ordinary director and be a thorn in the side of the new regime.
71c4,
Just read your post while writing this one.Let me say that I always find your posts informative and that your knowledge of mining is impressive.The frustrations which you feel are felt by us all, and part of my last post (we do not know what we are letting ourselves in for)is precisely about that. I wasn't explicit enough.There appears to be a sentiment that with a change of helmsmanship all old wounds will be healed.Maybe so, but we have heard nothing to confirm this.MD remuneration may stay unchanged (secretary as well), or worse still go up.Threats of litigation may continue, and "feel good" timetables" etc. may not go away.
You ask: Does MYG need to be refreshed? It does! It definitely does!Just voting in favour of the resolution may well do it, or perhaps not.The frustrations and issues need to be aired at the meeting with nothing less than being properly addressed by the board. Exactly how much company money has been wasted on legal fees?($1,100 is known). Is there any ongoing litigation against shareholders and who is paying for it? How much are consultants being paid and we should safely assume no doubt,that their fees are impeccably reasonable?
71c4 you live in Perth just as I do. Unfortunately I will be overseas and cannot attend the meeting, but maybe you can.These real concerns need to be forcefully raised, with real answers demanded and nothing less.My regret is that I will not be able to partake.I am livid,as many are,at the state which the company is in, and at the meeting, like many of you, I would be prepared to really stand up to them.I know that some of you will,and I would love to be a fly on the wall to watch it. If the culture of the company is to be turned around this is the moment.Many of us have been loyal shareholders for years, only to be left with a company which is on its knees.Demand better, stay focused, and don't waver.
MYG Price at posting:
3.0¢ Sentiment: Hold Disclosure: Held
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