Very hard to find value in the company when they potentially...

First 2 Last

Share
Profile

Follow
Stylonnnn

783 Posts.

251

04/03/20

20:13

Post #: 43308876
Share

Originally posted by Adequate: ↑

I've become increasingly unhappy with our board of directors.

It's unacceptable to lose two thirds of the company's value over a period of months.

The directors don't return calls or respond to emails. At best, it demonstrates these directors are out of their depth in terms of corporate governance.

I question their stewardship of our company and wonder whether their focus is truly on Carnaby or some of their other corporate interests.

I will call a 249D to replace the directors if we don't get a substantial uplift in value soon.

I personally account for ~3% and my associates another ~4%. I will be in contact with three major shareholders, who between them hold another ~16%.

The directors only hold ~12%.

I believe our company's assets are worth substantially more than the market is valuing them at. The question is are we confident our existing board has done everything in their capacity to build and realise the value of our assets?

At a minimum, they could increase their interests to show they have some confidence in the company they should be steering.

I expect more and we deserve more.

If anyone is interested in being notified of any potential 249D move, please give a thumbs up to this message and I will notify you if and when it becomes a live option.

Expand

Very hard to find value in the company when they potentially dont have gold in the ground and diminishing cash. I think the management of money has been pretty good recently and they actively drilling holes. Not being able to get in contact with them is kinda bs to be honest, they should be answering all queries from shareholders.
The value in this stock is the potential of the ground and the cash we have, its managements job to find whats in it. I dont quite know what other directors could do differently?
Did you have any ideas or thoughts on this?

CNB Price at posting: 5.8¢ Sentiment: None Disclosure: Held
2 Upvote

0 Great analysis

Reply