Maybe the present board has been told to step down...... So who will the CHINESE investors vote for I think MMGA would not take this action if they didn't have some sort of backing....imo
Why would ZINJIN J V and acquiring said tenements not be challenged by AVZ ....??? Power what happens there....????? What the M L is IMMINENT i guess M O U pops up just prior to this AGM...lol
The nominated directors further consider that a reassessment of AVZ's current and ongoing litigation strategy and exposure needs to be undertaken urgently as part of AVZ's efforts to rebuild critical stakeholder relations, have the license reinstated (a result unlikely to be available through international arbitration) and restore value for the shareholders. The sheer volume of litigation, and its costs, are diminishing shareholder value at an astonishing rate with the latest quarterly cash statements showing corporate costs running at $4.1m and a cash balance of just under $19m. With no end in sight for the various court and arbitral proceedings, and in the absence of secured funding to proceed, it is likely that shareholders will soon be asked to bear the burden of this cost, in pursuit of uncertain outcomes.
For these reasons and many more, we believe that this is an appropriate juncture for new independent directors to be considered for appointment to the Board of AVZ as a matter of urgency.
AVZ Price at posting:
78.0¢ Sentiment: None Disclosure: Held