General Chat / Discussion, page-9462

I really appreciate you updating us all about the GM, despite the poor voting turn out from SH's.

IXR has both Pro's and Con's as I see it. Tim has done a reasonable job so far, despite the new board turning up with hands out imo and the very costly and terrible SS timing and history of poor CR's/Placement timings, but is very approachable, passionate and good communicator...

Sadly, the board made a terrible decision rewarding directors over SH's imo, this over generous Share Placement with unacceptable issue of options and the excessive timeframe. New board have well and truly changed IXR's business landscape imo...

At this GM when a SH slammed this board, in particularly the new Director who benefited big time from this unacceptable placement etc, the boards response was a very typically lifestyle and lame, it was an unacceptable response, one I refute!!!!! Basically, they supported this over generous placement to directors because the last poorly timed CR back at the end of last year, was not fully taken up, so that's their excuse of doing this one and rewarding directors...

What a load of rubbish response imo, as the last CR was poorly timed, was too late, as the SP was falling, (should have done this after SP rally of 3c after Ruth signed off) they offered NO OPTIONS to SH's, then alone that B$ 4 yr low ball 2c time frame... This unacceptable recent Placement benefited NO SH and diluted our very large SOI of 3.8 Bil shares and this raise smashed our market cap... Absolutely no excuse to do this over generous placement leaving SHs out, as IXR basically sheet on all SH's and our MC imo.

PRO'S
1. Recycling plant doing well and gaining international traction (sadly no income earnt as too small)
2. EU support and VMM (large high grade REE but not high grade HREE)
3. We have a massive ionic clay rare earth resource and importantly a very large amount of valuable heavy rare earth at Makuutu which makes production financially viable compensating from our other low grade REE. Lower Capex, cheap labour costs and minerals on surface.
4. I believe Tim is progressing well with offtakes, JV's etc etc, confident he can achieve sign off's, (let's all hope Ruth doesn't have to sign anything off again due to her long past delays), lol...
5. Less reliant on China as our processing technology advances
6. Western Military need our resource, market is there, so we have to produce ASAP
7. Can't ignore that our Directors have skin in the game, despite their over generous placement with options but I want to not see any further free performance shares until we progress and SP is back over 5-9c again....

We have more than this....

CON'S
1. New board imo and have demonstrated that feeding themselves over SH's is the new IXR look imo which has impacted SOI and our MC.
2. 3.8 Bil SOI, surely a consolidation will happen and risk is that the SP will fall, like most consolidations do, let's hope it only happens when we have multiple signed off takes/JV's etc and NOT before we achieve critical SP rises and plenty of positive news
3. Need huge cash injection and solutions - to expand our current non profitable recycling plant, we need to build a bigger plant and on multiple countries
4. Need huge cash - Expand and go into production at Makuutu
5. Not sure about sharing our technology at 50-50 with other JV's etc, IXR have to own and stay in control of our processing technology
6. Current SP and MC
7. Board mistakes made which has cost us big time, the $500k payout and our new director given Share preference at SH's expense.

We have more than this imo...

So, we have a lot to do to improve our current 60% Pro's and 40% Con's going forward. So, get cracking and promote IXR internationally and get all these off takes etc signed and secure a large finance solution asap, then our Pro's will exponentially increase and Con's reduce, then all SH's can be finally rewarded.

That's my take moving on from this unacceptable B$ Placement, so back to business for me as we can't change anything... Our new director better prove his worth and his options exercise price seriously has to be changed to 4c+ not 2c as he has 4 bleeding years, board have to show good will and at least change this ASAP imo, which would go a long way in restoring SH trust again imo...

All the best to all, back to reading now for me...