Ann: Quarterly Activities Report, page-16

Incredibly what you are seeing here is a shuffling of the deckchairs.
They are not getting rid of any staff, oh no, our mate is becoming GM.

WHAT THEY ARE DOING IS APPOINTING A SWAG OF NEW STAFF

They are appointing a new Chief Executive Officer (CEO) experienced in mining project development,
a new Chief Financial Officer (CFO)
a new Chief Project Engineer.

So there will be 3 new additions to the salary bill and performance reward costs. Shareholders are to pay for these additions directly and indirectly and the running costs to the company balloon out of proportion to revenue sustainability.
There are no cuts, just additions to overhead.

These are the acknowledgements that the board are disclosing indirectly.
- That they have failed shareholders
- that they stubbornly maintained an incompetent board not suited to the task ahead for 3 years. Since 2019 AGM
- That they now acknowledge change is needed.
- That the finance is not coming with the current board and company structure as it stands. They need another 8 months delay to financing.
- That LG are currently still in the fold and drastic measures need to be taken to maintain this, Without LG they are doomed.
- That our mate is the sacrificial lamb being demoted to GM. Since the 2019 AGM and before.
RED

THESE ARE MY OWN THOUGHTS AND ARE IN MY OWN OPINION