Originally posted by fooca
"This announcement by Gerard King who has stepped down to be a non-executive chairman now, looks very positive to me.
Especially what he said in this part is telling me that he "as a shareholder" of GPP, he is also happy to see the the focus and energy of the new executives Cameron and Alistair have ; "Already I have been immensely impressed with the focus and energy these executives have exhibited to date..", which he never have had. "
This is the Chairman's Address, and as such he is addressing shareholders as an officer of the company and not as a shareholder to shareholder and he has made none whatsoever reference to himself being as such .....
Furthermore, if you think that King has never had the focus and energy that the "new" executives already have, then he should be sacked (as I can see no value in him at all being a non executive director taking a wage) and along with himself and every other person that has been gifted options/performance options / shares should be handing them back because they were issued as incentive to KMP's, consultants and the like to align with the shareholders of GPP: basically, have they actually been acting in the best interest of the share holders.....
McLean's letter (email) of introduction of himself to the shareholders of GPP
McLean's quote from the email he sent out.
"
I am keen to answer any questions or concerns that you may have."
As per previous post, I am genuine to have some questioned answered, and as I have previously said.... I will not do it by phone where the conversation can be misinterpreted or denied, if McLean is as transparent and as good as everyone is trying to make him out to be, then he would answer emails as he suggested, wouldn't he ?
Maybe they are a bit awkward for him to answer, but this is a list of the initial ones that I asked......
1: How did you obtain my personal information re: email address?
2: You infer that the Cobalt projects boast some of the highest grades in Australia, but that is solely based on selective rock chip samples, which are highly concentrated and do not under any circumstance indicate what is beneath, only drilling will decide that. You really only need to read the GPP announcements when they released the “rock chip” sample results at Morabisi to understand why there is total scepticism in these results. If you have a look at the total amount of results that were published, it is only the 1 (sample 1811) that has any promise. Also bear in mind the fanfare and hype of the Morabisi samples and what the net result was of the drilling campaign.
Can you explain why Asburton was passed over by Newcrest and Peak Resources?
Julie Creek has had no work done on it and your promotion of it is solely on nearology!
3: With the change of strategy to go straight to a “Commercial Plant” rather than build our own PDU, do you envisage any problems getting enough bio-stimulant oil to progress the broad acre field trials of tomatoes and wheat, considering in previous GPP announcements the reasoning of building our own PDU was because it was not cost effective to transport coal to America, have Thermaquatica produce the oil and then send it back. Furthermore, there were production and technical issues of the PDU, as well as it was not exclusive to GPP’s use, so why has there been a change?
4: If the “proposed acquisition” is ratified by the shareholders, and King does indeed move to a non Executive director role, what added value will he be able to contribute as there will be 4 board members now, (without knowing what the “new” key appointment roles is, just a KMP or on the board as well?) Point that I am making is that we will have 4 board members (Yourself, King, Peters, Williams on board, Suttling and “new” person will make 6 staff) taking a salary, to what benefit will that be to the shareholders?
5: With yourself and Williams predominantly being in financials and as you have suggested you will have networks, to what point do you envisage that we will need more technical people (boots on ground types) employed?
6: With the dwindling “bank account” how do you see us paying for drilling campaigns considering drilling is more costly in Australia versus (for example) Guyana?
7: Timelines have already been pushed out to what was indicated in the “acquisition announcement” re: August (Lincoln Springs) detailed mapping and EM Survey and October - commence drilling but now it is before Christmas!!!
8: With the engagement of a highly regarded Lithium expert to review the Turesi drilling results, and the highly credentialed geologists that made up GSM, the previous continued engagement of Watts it appears now that they weren’t as good as the announcements made them out to be?
We are flogging a dead horse with more money being wasted on chasing the dream at Turesi!
9: You have failed to mention Kopang, and the Annual Financials also never mentioned Kopang as one of the core principle activities of GPP, has this been abandoned?
10: GPP have not been able to release a Commercial Plan for the OHD project, even though the company has been suggesting that it was almost completed 18 months ago. How do you think that without this or any broad acre fields trials, as well as the failed trial (mix up of bio-stimulant strength factors) we will be able to encourage financial partners?
11: Has there been any progress on the SOP projects?
12: As a proposed new managing director, what will you do to improve adhering to Corporate Governance by way of shareholder communications and keeping us informed.
cheers
At least you got an email from him...
... perhaps they exceeded their monthly bandwidth having not expected to actually announce anything of significance in the near future?
(20min delay)