GXY (ASX) Ann: Appointment of New Chief Executive Officer

Originally posted by regal: ↑

The decision was Anothonys'.
The SP is to scare people senseless. . The institutions are shorting and not selling for very good reason. The company is about to grow three folds.
By this time next year, china spot price is predicted to be at all time high. The chemicals will be short in second half. The shorts are trying to get out at price low as possible. The volume is mainly created by short selling to themselves, very little available shares to buy back.

The company resume production in 2016, with debt of $200m to today surplus of $200m. Or $200m aud each year net. Resources drilled, measured and upgraded to value around $6b. Think.

Board of Directors
Name/TitleCurrent Board Membership
Anthony Peter Tse,CEO, Managing Director & Executive Director Galaxy Resources Ltd.
Martin Ronald Rowley, 62Independent Non-Executive Chairman Galaxy Resources Ltd.
Florencia Heredia,Independent Non-Executive Director Galaxy Resources Ltd.
Alan S. Fitzpatrick,Independent Non-Executive Director Galaxy Resources Ltd.
John Turner,Independent Non-Executive Director Galaxy Resources Ltd.
Peter Bacchus, 48Independent Non-Executive Director Galaxy

An executive director is a member of the board of a firm (or a non-profit organisation) who also has management responsibilities. A non-executive director (NED) is a board member without responsibilities for daily management or operations of the company or organisation.

A company I worked for was started by the grand father. When he passed away, the father became MD and CEO. The son is now CEO. The son answers to the board of directors, they answer to the owner/ MD(executive)/ father. Use your own judgment.

And another thing.
Brine minus water + converter ($400m) = chemicals. Net profit/ t $10k + for battery grade.
Hard rock + mine/processor ($200m) + converter($400m) = chemicals. Spodumene $300-500/t net, if meeting spec. Chemicals at second stage must also need to meet spec for battery grade. Not as simple as some company make out to be.

Expand

I believe there is disharmony on the Board and that is why AT was sidelined. Mind you, having Simon Hay as CEO whilst keeping AT as Executive Director focusing on corporate development and marketing is not a bad thing. I wonder though if Simon could not have just been brought on as an Executive Director whilst keeping AT as CEO. You have to ask yourself if someone like AT would really not want to remain the man in charge.

This was not the announcement we had all been waiting for. We have been waiting now for nearly 6 months to find out more about what is happening with SdV and all we have had have been announcements about an understanding having been reached with the Cree Nation at James Bay (which is great), and now this one about the appointment of the new CEO. The lack of acknowledgement of AT's achievements in the latest announcement is very poor (I would say even insulting to the man). What does this say about the relationship between Martin Rowley and AT?