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20/06/22
20:57
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Originally posted by Wilma85:
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The below is from the Kwinana development update released on 12 May 2022:"The City of Rockingham has provided EcoGraf with feedback to the Development Approval submission and the Company will submit its responses by the end of the month, after which the City of Rockingham will meet to formally consider the proposal and make a recommendation to the Joint Development Assessment Panel." Given that our Development Approval submission is not on the Council's June meeting agenda we can only assume that we did not submit our responses by the end of May as stated. Does Spinks not deem it necessary or important to update shareholders and the market as to whether this has occurred? Things have gone quiet re the Innogy IPO. I don't really care too much about that as I don't think that represents much value to EGR or shareholders. But, still, the company mentioned it so perhaps an update would be appropriate. Epanko... nothing is happening there, if it were the company would be shouting it from the rooftop. We don't have the equity component to fund development of that project and given the significant decline in our SP we're not really in a position now to raise it either. Epanko is in the bottom drawer in my mind. As for the JV with FYI... FYI are going through their own process with Alcoa. It'll be a very long time before there is any real progress on this front. Until we're producing SPG, any plans for coating are only academic anyway. Another one for the bottom drawer. Regarding changes to management and the board, we absolutely need to add some talent and competence to the board. Conidi has been dead weight ever since I invested in this company. Pett in recent times has been essentially invisible but for the obligatory AGM appearance. Spinks is woefully slow but he at least works and brings something to the table - as much as his inability to deliver on timelines frustrates the hell out of me. EGR is one of the worst, if not the worst, performing graphite stocks on the ASX over the last 12 months. My preference right now, given the extremely poor sentiment, would be to bring in some high-caliber, talented people and then get rid of the deadwood via a resolution at the next AGM. It's a pity Howard resigned from the board, I actually rate him very highly. Shareholders are able to get more information direct from the Department of Planning, Lands and Heritage than they get from the company via an announcement. That's terribly disappointing. 27.5c... I need some wine.
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I doubt they will add talent to the BOD willingly. They had Rae there and dropped back to the 10 years of driftwood BOD they had. The only thing that would force change to the Board is an EGM with resolutions to remove and replace Conidi with ....practically anyone on the planet, a further resolution to replace Pett and a resolution that forces Spinks to formally communicate to the market on all project statuses and what is delaying all... Q and A format I have 700,000 EGR shares that would back any such EGM and resolutions. There might even be T20 willing to back change 564xxl ps I'm not suggesting these resolutions specifically ... I'm kinda filled with rage at how freaking useless this BOD has become. but I would welcome hearing other holders views on resolutions ... see what might be supported
Last edited by
564xxl :
20/06/22