I sent this email to James
Good morning, James,
Thank you for responding to my email in January 2024.
It's been 132 days in 2024, and we still haven't drilled. Last year, you emphasized a focus on drilling in 2024. Did you mislead shareholders?
Are you able to present to shareholders the very extensive mapping that you've been carrying out of the last 12 months? surely this would justify geo analysis paralysis we been in for last 2 years.
In 2023, $200K was allocated to marketing, and we are now awaiting a $200K government grant in 2024. I've strongly expressed my concerns about this expenditure, particularly regarding the YouTube videos. Do you now regret the $200K spent on marketing in 2023? Would you agree that had it not been spent, we could have commenced drilling by now?
When alternative directors were proposed, you pushed back, citing Warren Hallam's satisfactory performance. Unfortunately, the same level of performance from MLX has continued.
Alternative directors could have partnered up with MI6 to utilize pooled geo-resources and advance exploration to the next level. Do you regret your strategy of keeping dead wood on the board?Additionally, the mediocre decision of selling the copper assets in a copper bull market, does the board regret this decision on behalf of the shareholders?
It seems you are leading KFM shareholders from one disaster to another. In December 2023, numerous management options expired without conversion. There has been no director's acquisition of KFM shares. These factors suggest management is squandering shareholder funds and doesn't really believe in the story. Do you agree?
Suggestions:
If scaling down exploration, there is no justification for paying directors such as Warren Hallam. Consider placing all the directors on unpaid leave until exploration resumes.
Cease all subscriptions.
Close the WA office to eliminate rent expenses. Transition to remote work.
As you've mentioned, if REE prices too low for expolaration, it would be prudent to save shareholder money. Do you agree?
They say in the exploration work there are explorers and prospectors. Although having the best ground in WA, you were not able to achieve anything significant for KFM shareholders.
You appear to be in the explorer category, not true prospectors like Mark Creasey.
It's up to you now to make it count or remembered as an explorer on a web page.
Regards
Expand
