Very interesting results of NCO meeting. It seems as though...

Very interesting results of NCO meeting.

It seems as though there is a strong undercurrent of shareholders against the actions of the incumbent management.

The fact is, why does a company the size of NCO need 4 directors? Jobs for the boys? Removal of the additional director would save the company $36,000 a year in share dilution. Similarly, why is a non-exec director getting paid $36,000/year – especially in cheap stock?

The fact is that under the stewardship of the current board, the company’s best asset, Ongombo, was lost.

And how long does it take them to find a deal for this great shell? I mean really, why be in a rush when you can just keep on diluting shareholders by assessing deals and not doing them? Also, why ratify the issue of 7,989,882 Shares at an issue price of $0.00323 when the stock is trading at $0.007? I assume the board voted in favour of this yet I wouldn’t necessarily call it acting in the best interests of shareholders. Wouldn’t they be better off just paying the $25,000 and being done with it or placing 5m shares at $0.005 to raise the money if they’re afraid of running down the company’s cash?

I wish I could’ve attended the AGM to ask these questions in person. All I can say is that the quicker a deal is done and the current board resigns (as is the usual course of action when a deal is vended into a company), the better.