Chairman (Director) on a 6 months Performance Plan/Notice due to an inability to start mining, page-90

Welcome to the conversation @nikunjsahani

Can you declare your relationship to MQ and WWI (and your source) because the information you share about the conditional nature of the IDC debt facility is conflicting (or critically lacking information) that has been given to the market:

IDC Debt facility
https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02685646-3A621495

Chairman's address
https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02744285-3A631573

The issue with the IDC (& Wingfield's) 'conditions' of the debt (you really need to state your source) that you present is that it creates an extremely low probability that the total loan will be fulfilled. With every counter-party the risk doubles (goes up exponentially) and the loan amount drops and the general 'no go' intersection of that is the 3rd counterparty, WWI's current debt 'stack' position. Who does anyone know who's received approval for their 3rd mortgage to a 3rd institution? It doesn't happen.

Particularly since you state that IDC will be last to drawdown, that's a massive condition.

In your scenario: If no total loan (condition of loan) = no IDC = no mining!!!

WWI would literally be better off starting again with a Chairman that can provide the entire Debt facility to start mining.

As for your comment on the power base, at the last AGM the average votes were a total of 700m (votes) approx 25% of the shareholder universe, about 55% of the retail market and Wingfield's investment has been diluted by 1Bn shares over the past 3 years reducing their voting power.

You're missing option 3: the shareholder is in control of WWI and install a Chairman (mgmt team) that can if they can't start mining by EOFY.