This is developing into a circus. I live in hope that the...

This is developing into a circus. I live in hope that the existing board progress merger or takeover conversations with someone far more credible than these clowns. Indeed, I hope that their clumsy actions have spawned some competitive attention.

1. The board IMO did not disclose the defamation threat ex Welker. On receipt of the Concerns notice I think compliance rules would require disclose.
2. They don't have enough shares to progress... really? They were collectively issued circa 20m so I'm not sure where they have gone.
3. If indeed the notice is invalid because of a basic technical flaw, that says a lot about the diligence of the suitor.
4. The fact that the share buyback has stalled suggests that it is Welker's dream and not that of the board. I share the boards view.
5. Many of the concerns raised (including overheads blowout) by Welker were under his stewardship. Additionally, storing 16koz (circa 2 months equivalent) of gold at year end in a falling gold market doesn't scream financial diligence to me.
6. Welker talks about an "alleged" termination. Alleged?
(a) He resigned (refer announcement dated 30 June 2022.)
(b) Per Corporations law (section 203F(1)) A person ceases to be managing director if they cease to be director;
(c) Per announcement 5 July 202, the notice clearly advises that he was terminated.;
(d) The terms of Welker's engagement provided "...The Company can terminate the agreement without cause by giving Mr Welker six months' notice of termination or by making a payment to Mr Welker...".
Not sure what allegation Welker is referring to. Regardless, this sequence of events looks clumsy at best; pitiful at worst.
7. The skill set of the proposed directors was less than inspiring.

If Welker wants access to the cash to further the Drummond prospect, step up and buy Medusa. Here's hoping that another gold major might take a look