MAN mandrake resources limited

Ann: High grade gold results and Ni-PGE potential at Berinka, page-56

  1. 11,048 Posts.
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    I can sympathised with shareholders that bought in because the way it was sold, on Newleyline and subsequently Delfin. Management has not fulfilled their indications of drilling out Newleyline todate and the Delfin acquisition turned out to be flogged.
    However to date I don't think the threat of management changes may come to fruition. We have heard of threats but no action has been taken as I know. it could be the holders are small with their holdings, I am referring to the discontented that voice their disapproval here.
    My understanding is todate no new directors have been put up for the AGM otherwise it would have been included in the resolutions todate. There are no shareholders canvassing privately to arrange a change in management. Merely posting here is just releasing one's own frustration, no positive action.
    I am more for management to change the way they do things.To be more transparent, to manage shareholders expectations better and to get the right people to assist them to advance the company. If they indicate their intentions, they must follow up on it instead of procrastinating.
    I don't mind management being rewarded for their efforts, but they must give shareholders some reasons for them being rewarded. To ask for a raise when they have nothing much to show or little to show is really an embarrassment. If the share price reversed instead of a continuous decline, if they announced good results of rees, PGE, lithium in the soil and rock sampling may change the perception of shareholders. It is better to ask after positive results as shareholders will not mind as they add value to the company. As it is, the company's market capital is its cash value only. Nothing is attributed for Newleyline or Berinka. The market is wrong in this regard but I feel management has been part of the reason.
    Major Shareholders won't take any action until they have their people ready. They could be planning for all we know. They are smart that they won't change till they have an alternative plan and an alternative board ready. They will not talk about it openly but plan for it quietly instead.
    My hope and wish is the management stays provided they give shareholders a good reason to keep them. They continue to add value to the company, increased the market capitalisation, improved share value, managed better shareholders expectations.
 
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