CTL 0.00% 0.9¢ centennial mining limited

15 August 2018, page-7

  1. 135 Posts.
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    I agree that Rogers needs to be removed from his positions as Director and Chairman but don't count me as one who is happy with him as CEO.
    The reopening of Union Hill Gold mine has been a financial disaster for CTL. Rogers as CEO has been negligent by beginning mining before first completing a detailed drilling and exploration program. At Union Hill Gold mine they have been digging blindly mining low grade uneconomic ore. Processing uneconomic ore or just plain dirt through the process plant has cost us millions of dollars. This cost is made up of not just wages but includes unnecessarily wear on the crusher, ball mill, CIL plant and depleting the value of the tailings dam by decreasing its capacity.
    Hopefully we can get the numbers to remove Rogers from his roles as Director and Chairman. The question is who do we replace him with?
    Once the two separate positions of Chairman and independent Director have been filled I believe a forensic audit of the accounts is required as well as an investigation by an independent qualified person/persons into what decisions were made by whom and the reasons why in relation to the reopening of the Union Hill Gold mine, this fiasco has cost us millions of dollars and we need to know why and who is responsible.
    All CTL's assets are in Victoria, it makes sense to me to have CTL's headquarters in Victoria as well as the General meetings.
 
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