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17/10/24
08:31
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Originally posted by danbradster:
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People are pushing for new management, but I think that would come with its own problems. They would not be up to speed with the KCN/Thailand/TAFTA specific issues. Just as the Thai government changing causes TAFTA delays, so could changing KCN management. Also I saw a further mention of - growing to a mid tier miner through acquiring an exploration asset. LG won't like that. So I'm not voting against management. Though LG does make me a little afraid that there's an old boys club running there - all bow to the chairman, or be fired. And the chairman has his own weaknesses, as he keeps showing in the chairman's reports (not even focusing on the company, thus putting off potential investors - using the position as a soapbox). But his shareholding means that I trust him at least a bit to keep decent people in the management positions. Gavin was a trustworthy face, though most of our assets failed for various reasons over time. I'd probably keep NE (if the political risk there is not terrible). It may be better than any new asset we take on. How long to development? 5-10 years. Even Thailand exploration is on a similar timescale, other than possibly some near-fence pits. I'm not usually one to vote against resolutions. But the bonuses were once again putting the company second (while holding short term debts and doing capital raisings! And being significantly behind schedule. ). So that was my only No vote. To send a message to stop lacking transparency, over promising, and putting the company second.
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@danbradster , your thoughts and voting intentions are the same as mine. I want to keep management, but want to send them a message that the bonus and pay increases were premature.