it's confidence issue. the amount of votes that went against both Ians was huge. And I am sure there would have been few investors who also don't like both Ians but never bothered to cast their vote. I am guilty of being one and that's 200k votes (bit over).
Now over 3 years of drilling and only one portion has defined inferred resource and they have no clue what's beyond Boda1&2 and Kaiser despite claiming they were drilling wide and not for resource as they wanted to build better understanding of this large system.
Serious investors now see them the way I described them while ago.. country boys with no clue how to deploy capital and think the day is 60hours long.
What they needed and still need is - drill as per plan and, each quarter, sneak around 4 holes into the outer areas like Driell, Boda3, Konigin, Murga, Camobella etc.. Only 4 holes per quarter would have allowed them to build decent understanding of these areas. Only 4 holes per quarter for the last 3 years.
Everyone (everyone with brains) would have accepted what ALK was doing and would have give them time. I clearly remember when they talked about going to explore Murga and Driell about 2 years ago.. and what happened? lol
Only about 2 months ago Nic was saying it is wait time about Tomie ext approval and then we found out they actually had to prepare one more response. Did they know about this or did someone fell asleep behind the wheel? Or did someone submitted that RI8 report late so ALK had to take tome to respond. This was not clearly explained which makes me think it was ALK falling asleep. Or the only thing Nic failed to explain clearly in his what I find to be his best presentation to date.
So yes, better operators could do lot more with these assets.
Look how IG handled ASM and look who else is on ASM board.. lol
ASM traded well above $10 and even the dumbest person knew they needed more cash so why didn't these guys do CR then and take advantage of the high SP? They are doing it now at $1.72. Dear me.
These same guys run ALK so there you have it. Obviously there will be confidence loss. IC just resigned his position at ASM but Nic and IG still hold them. So how much time is Nic dedicating to ASM? Even if it's 2 hours per week it is 2 hours per week that should be spent on ALK.
And how much time was Ian C dedicating at ASM? Clearly his energies weren't 100% spent on ALK.
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