Ann: Board Restructure and Cost Savings, page-116

feel your pain mate, i think its been a combination of things, people and timing. Unfortunately we had wrong people on board at the right time and then had the right people on board at the wrong time. I think that kinda sums up journey thus far.

TBH if covid19 hadnt happened the whole global economic landscape would be so different. During this crappy enviroment you will see heaps of bigger companies that will start to strengthen balance sheets by raising cash at low prices SPPs/placements (FLT, REC, COH,AIA to name a few recent ones). Unfortunately we cannot hence salary cuts, i didnt want to see Chris leave either but i guess when push came to shove we knew he would be taking a back seat for 3-6 months at least due to low cash, delays in lithium and construction unrealistically happening this year.

I dont think anyone maliciously pushed him out of this (i dont know the full story) but doesnt take much to imagine that they had a war room meeting where they planned out what could be done in the short term and what couldnt be and the numbers show that they didnt have enough cash for everyone. Shit times, bottom drawer this goes for me but a lot of lessons learnt.