“The failure is in RG inability to communicate…” What communication failure? Which specific matters? If you are talking about his polish, a NED isn’t the company’s public face. You know this.
“the boards screw up of a laid on a plate capital raise” If I remember correctly, previously you said a CR would be impossible before a significant BOA. What specific thing was in ADN's control that they could have approached differently that most likely would have produced a very different outcome?
“talking publicly about shorting,” They issued a few vanilla sentences on the matter. Fact is, companies that have addressed shorting have survived it better. I think they should have been more aggressive. Others will think differently. Regardless, shorters don’t have a right to have their activities hidden.
“RG/AS declining to tell you what they do and how much time they spend on ADN activities” Shareholders don’t manage the BOD. The BOD is accountable for delivering on objectives, not reporting their day-to-day activities. You know this.
“but demanding a big pay rise (those votes against 10 & 11 were big),” yes, the remuneration package seems excessive. However, shareholders sent a clear message, and in the scheme of things this is nothing.
“failing to contain the CEO's obvious enthusiasm and hence publishing overly aggressive timelines which are actually out of the company's control.” I can’t think of any junior explorer that hit every deadline.
“Some of us try to spot failures before they happen, not clean up the […] afterwards.” Agree. Where are the specific failures?
“…you can see it's starting to get flaky.” How? What specifically is failing? The only thing that has gone flaky is some shareholders with zero patience, zero vision, and a profound unearned sense of entitlement. Basically, they confuse volatility with value, and think the 40c SP was their birth-right. Those whose vision is limited to DSO only have themselves to blame for holding beyond 40c. Those holding longer for the bigger vision can’t complain when the company is taking the steps to reach that vision.
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