Perhaps this needs more discussion so I have started a new thread about it. Highly unusual for the likes of PWC as auditors to resign.
It really is a big red flag especially as we know there was a disagreement between the auditors and the board over how the options, including RCPS, would be carried on the books.
What we do know is the auditors resigned with in a few days of the RCPS conversion ANN which is a good indication that they were very keen to distance themselves from the company based on this event.
The auditors are no mugs and do work for a high % of mining companies listed on the ASX and like I say it is highly unusual for them to resign.
IMHO the auditors timely resignation and open disagreement with the board about the RCPS is a huge big red flag and another indication that the RCPS conversion was not a small event that happened a long time ago as one particular poster would have you all believe.
Also of note the AGM is passed without a new auditor being announced an indication that all is not well and this sector may have lost faith in the board as well but I am sure they will find someone to fill the roll...... probably not the caliber of PWC.
BRL Price at posting:
13.0¢ Sentiment: Sell Disclosure: Held
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