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AGM - Questions and Answers, page-15

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FD20

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30/11/21

17:53

Post #: 57972390
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Originally posted by FD20: ↑

What I'd like answers for are:

1. The fourth and final hole at Newleyine was due to be completed in November. Can we get an update of the progress and what further drilling is planned in the Jimpering area for 2022?
2. On what basis does the board still believe Jimpering contains a mineable and economic resource to continue exploration work?
3. Can the board explain the decision to engage the services of C3 Consortium and what value did they provide to shareholder interests given that C3's business model is to "pump and dump" stocks. Will the board be extending the current agreement with C3 beyond its present expiration?
4. Given the company now has approx. $16.5m of capital and the share price is down 76% from its yearly high, what action will the board take to arrest the continuing decline in the value of the company?
5. References are made to drilling at Berinka in past quarterly updates however, no work has been undertaken. Can the board explain why no work is being undertaken at Berinka?
6. The Managing Director's salary at 30 June 2020 was nearly $198,000 and at 30 June 2021 $277,000 plus generous options. This compares with $220,000 awarded to DevEx CEO, Benjamin Bradley to cite an example. Given the share price is down 65% since 1 July, will the board be reducing the salary and options paid in FY2021-22?
7. "Skin in the game" is often used as a barometer as to whether the board and management's interests are aligned with shareholders. Can the board explain why their shareholding is low when compared to other similar explorers like Chalice and DevEx?
8. Can the Managing Director explain the lack of investor communications on platforms such as Proactiv and is there a reason for shareholders being left in the dark as to the direction of the company without the need for said shareholders to contact the office directly?

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Haven’t heard back from Jimmy with answers to my AGM questions.

Guess he might be busy at the TAB what with the $16m to wager?

MAN Price at posting: 5.3¢ Sentiment: Hold Disclosure: Held
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AGM - Questions and Answers, page-15

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