Ann: Mahalo Gas Project Receives State Environmental Approval, page-33

It's a very reasonable question.

After 11 years, Managing Director McCaul has taken $3 to 4 million from shareholders.

The share price is 40% down over 10 years.

The slide below comes from the 2010 AGM. Not much has changed.

The company's accumulated capital expenditure, excluding impairments, to June 2019 was $81 million.

Since June 2019, they've easily spent $20-25 million more.

The questions all shareholders should ask are

1. whether Managing Director McCaul has made $100 million worth of progress and since 2010,
2. whether he has deserved the $3 to 4 million he has taken and
3. whether he continues to be the right person to lead this company