We have been waiting for our incompetent management to develop the Fausse Point project for 31 Months since 15/9/2009.
For the period between 15/9/2009 and 13/4/2012 (31 momths), our directors and management have earned an estimated amount of $762,566 between them, averaging $24,598 per month (value of issued options has been excluded).
The very important question of our mangement is: What value have we the shareholders received over this period of 31 Months - the answer is: an enormous decrease in the VIL shareprice from a high of $0.018 to $0.005.
Now, our management have the hide to ask us the shareholders, to give them the freedom to print more and more shares by the restoration of the 15% placement capacity in Resolution 1 at the General Meeting on 11 May 2012.
In my opinion, every VIL shareholders should vote AGAINST Resolution 1 to ensure the accountability of the management.
If management is fair dinkum, they should come clean and honestly tell us what is on their agenda.
VIL Price at posting:
0.5¢ Sentiment: Hold Disclosure: Held
