re: Ann: 2011 AGM - Chairmans Address and MD ... Yes I know that gold resources include a variety of grades but the average grade of Mt Magnet will not change.
Its the average grade that determines mining costs.
It think there needs to be changes to the 25% rule.
If the board withdraw a resolution before the vote they still should be bound by the effect of the 25% rule even if the resolution is withdrawn. Its opportunistic to withdraw at the 11th hour.
Summary.
Unless management withdraw a resolution three months before the AGM, even if they withdraw the resolution on the 11th hour, the penalising effect on the board should remain.
This doesn't have to apply to all resolutions but only need apply to certain classes of resolutions.
This would stop bait and switch resolutions where boards can withdraw at the 11th hour and therefore never be accountable.
re: Ann: 2011 AGM - Chairmans Address and MD ... Yes I know that...
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