Questions to Management - What is going on? Official., page-993

@Glitterati "How do you know that given the circumstances, and it's not your everyday scenario, the ASX has waived the requirement to call the AGM "

This rule from the corporations act applies to all public companies, whether listed or not. The ASX do not have the power to 'waive' the requirement of having an AGM. Only an application to ASIC would be considered, but has to be applied for early...

" RG 44.7 An application made under s250P to extend the date of the AGM must be made before the end of the period within which the meeting would otherwise be required to be held."

From the document RG 44 ...

https://download.asic.gov.au/media/1238144/rg44.pdf

If you read some of the the relevant documentation that a few of us put up, you wouldn't even be asking the questions as the law is fairly clear.
The penalty is a $1000 fine and or 3 months prison. Someone that has a conviction against their name cannot be an officer of a company for 5 years.

Now if the board, or most likely the chair get charged with failure to hold an AGM, I don't think the excuse of 'we didn't have much to report or say' will go very far with a judge.

I keep mentioning the continuous disclosure rule, because if they had applied for an extension period for the AGM, then it should have been announced.

Instead of shareholders continually looking for 'motives' of people that are finding flaws in the way this company has gone, I would have thought it would be far more productive for the hip pocket to get answers from the company and put pressure on them to keep on the path of building shareholder wealth.

For example, where did the money go?? While a group of shareholders have been ramping this stock, the companies funds have evaporated without much to show for the money...

At the end of March quarter 2018, the company had $1.921m in cash after raising $2.126m during the quarter. Expected cash outflow for the next 3 months was $673k, made up of $250k for exploration and evaluation, $148k for staff costs, and $275k for administration and corporate costs.
Actual spend was $89k for exploration and evaluation, $128k for staff costs and $194k for administration and corporate costs for the June 18 quarter, but the company only had $961k cash at end of the quarter. The cashflow statement stated these amounts added up to $1.687m for the quarter (and a total of $1.355m for the 12 month total)??.. Hmmmm?? ($661k was also spent as prepayment for the processing facility under the investing category, so not part of the $1.687m).

In the September 18 quarter $351k went on staff costs and $459k went on administration and corporate costs, with only $21k on exploration and evaluation. A very high expense for a quarter on staff and admin. However there was a placement gaining another $1m.

In the Dec 18 quarter another $270k spent on 'operating activities' plus another $684k went into a trust account. Huh??

In the Sept 19 quarter, with the same company, with the same type of expected expenses, only $46k was spent on 'operating activities' whereas the corresponding quarter the prior year had $825k in expenditure.
Of course it is all easy to reconcile by looking in the Dec 18 audited report, or the 2019 annual report, whoops no, both documents are missing. Then again shareholders could question the auditors at the AGM for an explanation. Whoops, no again, as there is no opportunity because no AGM.

Since end of March 2018 just on $3m has been spent, where did it go??

This company is a fascinating study and highly educational. I suspect that is why there are a few of us non holders paying so much attention to what is going on.
Of course the usual rampers want shareholders to question those of us looking at and describing the ship wreck, instead of getting stuck into the captain and the crew, why???....

All the above numbers are straight out of the quarterly cashflow reports and the 2018 annual report.