first non-core asset sale – canegrass project, page-16

Management of MXR should be sacked and new independent directors and CEOs should be running the company. What a bunch of hacks. The sale of Canegrass to a related party is the biggest sham. I want ASX to query this related party transaction. It is definitely not in the best interests of shareholders.

Never once did management meet any of their stipulated targets. Their first project was bird in hand, which by the timelines in the prospectus, should be up and running by now.

I am a shareholder from day 1 and I cannot agree more that we need a change in management. These guys are unreal. Running the same company (i.e. MXR was split out from Flinders). Same suite of assets and they are doing the same work. Why should management be paid more than 2x their initial salary to do the same work?

I expect a CEO of a company to be investing 70+ hours in the business each week. I expect them to work for shareholders and enhance value. How can a guy like Kev be expected to work more than 140+ per week and still eat and sleep and shower etc.

Why hasn't anyone gone to the annual AGM and asked for management's head to be placed on the chopping boards? This is a farce and a total sham and I am extremely disgusted to be a shareholder.

Hopefully ASX looks into their related party transactions. Maybe ASIC should probe into their dealings as well. I am expecting to write off my position anyway.

Big Kev, if you are reading this, you should consider stepping down from your post. How can you ever justify the sale of Canegrass as in the best interest of MXR shareholders. It seems your loyalty lies with FMS and not MXR. You should not be serving both companies. Step aside like a man.