1. I am not confident that the board will provide any more insight as to progress or lack of progress re the current review at the EGM. It's possible that whatever the constraint is now, will still exist on that day and conceivably, the 'commercial sensitivity' will remain. I think it dangerous to suggest all will be revealed before then.
2. Heading towards 3 months since the launch of all things review about something which cannot be spoken of. I have built my theories based on the announcements and articles since published. And based on these assumptions, I'm not happy with the apparent proceedings because just maybe a resolution will add value. However, if my theories are right, then IMO enough time has passed and enough exchanges have been made that any sensitivity is at least well understood by the parties and parties respective positions shared. Is the chair of PMC accused of a crime? Is another clan claiming an entitlement which might even be retrospective? Have assets of X64 been mis-appropriated and investigations continue? Is X64 technically insolvent? IMO enough time has elapsed to allow the board to (a) establish a position with respect to all uncertainties; (b)identify the relevant actors and importantly, (c) have clarity around scope and trajectory to resolve (good, bad or otherwise) these issues. It is time the board at least provided a more structured events / actions list ahead eg offenders are being prosecuted; arbitration is afoot to establish validity of claims; material uncertainty to the carrying value of assets precludes directors from signing a true & fair conclusion.
3. It's interesting you point out information head of the EGM. There is IMO an arguement that the EGM resolutions are being voed on in teh abscence of all material information.
Have a great day
X64 Price at posting:
57.0¢ Sentiment: Buy Disclosure: Held
(20min delay)