Ann: Maiden Ore Reserve for Tormin Inland Strand, page-15

It certainly seems odd to issue shares in the current environment with the share price still completely collapsed after 12 months, doesn't it Marcus-Aurelius.
This would be something that a board interested in performance would perhaps postpone somehow? At the very least in a display of goodwill to shareholders they could actually give a bit more info in the announcement even though not technically required. Look after shareholders, and they will look after you.
Clearly this lack of effort to inform resembles the way that shareholders are viewed.

At the AGM, CEO Baker said it was expected there would be some selling off when the ex CEO was terminated, and that they had considered this in their assessment of doing so and that they expected it would be a short term effect and that it was nothing they were concerned about.

Obviously this is indicative of the level of the incoming boards collective ability to assess situational dynamics in making decisions that effect the company.

Baker has resigned or terminated, cant remember which. So he cant be asked the question

It is around 12 months later and share price has never recovered, there were publicised threats from politicians of mass mobilised protests for creditors not being paid in South Africa and now new shares have been issued...

We do not know who the shares were issued to and on what basis, so we can only assume that we will find out later.

As always, very bad communications though at least Peter Fox though not the most clear of writers, would always try and put a positive spin on the announcements. This Handcock guy, who laughed at shareholder questions during the AGM has yet again demonstrated how he views shareholders.