Thanks Franky.
As I said in my previous post that got modded, we told the board time and time again to lift their game: but nothing! The market needed information and the more I think about it, I think they were hiding inactivity with silence, just plodding along as they have done their whole careers. Thats ok in the 80's and 90's when these people started out but this a new age company in a fast paced industry and they ultimately weren't suitable. In the end, some stood up and took control, which I believe has saved the company (again). The BoD would have let us go down the path of dilution again and again as they faffed their way through to production likely starting in 2030.
It's clear now they are good at compliance but not delivery. Greg simply couldn't do a thing without hiring someone to do it for him. Thats ok when you are a $1Bn company, but junior developer? No, we need as doer.
Athena comes here and talks about a new age of shareholder activism and I agree we have moved into an unprecedented time where shareholders have a voice, expect results and actively share opinions and communication via various media platforms. Unfortunately for the ex BoD, they have shown themselves to be dinosaurs completely out of touch with how a modern company needs to be run. Its ok when its a regional gas play or uranium explorer, these projects can take decades to bring online and the market is happy with this. We are lithium, new age and we need to be nimble.
Interestingly enough the below is from the front pages of the Deep Yellow and Comet Ridge websites (companies that the BoD are affiliated with). I then had a look through the BGS website and couldn't find one instance of the words 'creating shareholder value' or similar. Now this unintentional freudian omission may go someway to explain why we got to where we are, the BoD just weren't committed or focussed on BGS, simple as that.
Deep Yellow Limited (ASX
YL) is a specialist uranium company implementing a new strategy to grow shareholder wealth.
The Company is focused on creating shareholder value through the discovery, certification and commercialisation of CSG reserves
If indeed we do have ex BoD members posting after 2 years of silence, its a clear sign of their narcissism, only to raise your head out of the sand after being booted to defend your shoddy and archaic performance. Put simply they should be ashamed for the position they got us to given the quality of this resource.
Anyway, what's is done is done now, I am extremely optimistic looking forward. I will be buying more shares now the Paladin Posse are off and we have dedicated, equity holding BoD members pushing us forward.
(20min delay)