1st Microsoft, now Google, page-191

With Albo & Bowen, it's ideological.

With Cook, it's pure political calculation.

With RH, it's...something else, I suspect.

Toro is in a difficult spot. Of all the three above, I reckon RH is the greatest impediment to the development & construction of the Wiluna project.

What RH did on Jan 2022, without disclosing his intent to the market prior to the 'substantial commencement' deadline, is all the proof you need. I still don't understand how ASIC allowed him to get away with that pivotal, price-sensitive decision, without prior disclosure to matket.

Even the most staunch supporters of RH, must concede this point.

Then, when we add the persistent delays, chronic lack of action, and the constant failure to deliver on basic promises made to market, supporters of RH must be open to at least consider that criticisms of RH's leadership may indeed be valid. This should paint a troubling picture for everyone. The evidence is mounting.

Case in point, 12mths after a $12.3M raise, where promises were made to deliver a pilot plant, associated test works, and a bulk sample drilling campaign, nothing has been delivered.

Further, +18mths after promisong a demerger, nothing has been delivered.

And we don't even need to mention the costly errors in judgement, that led to millions being spent on the aborted gold, and nickel transformations of the organisation. Where is the accountability for that?

Instead, we have been paying RH +$550 per annum in total compensation, and for what..exactly..? While allowing him to devote part of his calender to focus on his 4 other directorship roles? And as if that wasn't enough, RH has now requested even more freebie placement shares in Toro, based on what..?

How does any of the above, paint a positive picture of this company's leadership? Why are the major holders happy with this leadership history, and it's mpact on their share price performance? I'm trying to see it, but I can't.

Imagine if we had a Brandon Munro, Michael Young, or John Borschoff at the helm, for the last 3yrs? Imagine, how different the outcomes might have been for Toro?

There are so many talented, energetic, and passionate mining executives in Australia, who have delivered complex, greenfields mining projects around the world. Why are major holders sticking with a small-time city lawyer, with a track record of delivering nothing and whose decisions have destroyed the share price of this company by +80% in 3yrs?