News: MLM Melior Announces Merger With ASX Listed Metallica Minerals Ltd, page-73

The current board and management of MLM has failed spectacularly.

To name a few things:

1. No production today despite telling us in Feb 2017 that the company is "On track to commence bauxite production in Q2 2017" (see Investor Presentation Feb 2017).*

2. No notable advancement of the HMS- or the silica sands projects.

3. Selling the remaining 10% of the Sconi-JV to AUZ for a song.

4. Despite all these failures the CEO has become a board member and MD.

5. The compensation package of the now MD is exceptionally attractive. It's total value for the FY 18 including bonuses and share based payments is $614'565 (see full year statuary accounts, published in Oct 2018).

* I don't know when they knew about the haul road issue. If they knew already in Feb 2017 this was likely an illegal misleading of investors. If they learned about it later it was just very poor project management (where was the proper planning? the risk management? coming up with alternatives to the problematic haul road and advancing them?).

We absolutely need a new board and management (preferably at half the cost)! I am not sure if the proposed merger with Melior (as well as the Wagina project) is in the best interest of us shareholders (or just in the best interest of the current board/management). But I am sure that a new Metallica board would reassess these projects and tell us their opinion about it. Let's replace the board/management and see!

The efforts of MalcolmD and the rest of the Metallica Minerals shareholder action group are neither unqualified nor hypocritical. They have considerable skin in the game and they even pay the legal fees out of their private pockets.

I have happily registered with https://metallicamineralsshareholderactiongroup.com/

Please do so, too. It's for the good of the company and your shares!