tbh IMO
neither gaggle should be at the helm.
I think vitrinite's has ulterior motives which has a minimum of it being settled in full cash for the sale of its trashy tenements; at best they'll get to deal with the balance of cash to squander on all things wonderful. I also think that they will abuse process and repeatedly present s249D applications frustrating anything that resembles active management of the core business.
conversely, I think the incumbents have painted themselves into a corner : IMO today's announcement clearly demonstrates that the current team are content deliberately publishing material which is so vague and poorly constructed as to be misleading. trust is easily spent; difficult to earn. it doesn't take a huge leap of faith to conclude the representations in today's notice are any less vague, misleading or inappropriately skewed. For example, which bit f this self adulation is misleading:
"... The Board believes that the Vitrinite’s Proposed Directors have fewer skills and less of the relevant experience required to advance the Company’s CoO mine and Queensland exploration activities when compared to the incumbent Directors the Vitrinite Shareholders are seeking to remove ..." After all, its only an "Operational audit" which in many companies I have worked with is pretty baseline ???
I think publishing this notice inclusive of "...With careful consideration of all of the available information, the Board is of
the strong view that it is in the Company’s commercial interests, and therefore in the interests of shareholders, for the suspension to remain in place while these matters are resolved...." without any time limitations is arrogant at best; representative that the current board does not have despite 2 months of queit time any plan or stratgey or path to resolve that which cannot be spoken about.
really really really annoyed.
(20min delay)