Perhaps AUZ bod aren't ready to throw in the towel like that...

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hookyonezero

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03/07/20

14:38

Post #: 45628544
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Perhaps AUZ bod aren't ready to throw in the towel like that just yet....

That waving of white flag will come to mark the beginning of the demise of CLQ/sunrise as it is currently known. IMHO

Originally posted by Muay: ↑

This is not a cross promotion in any way as I don't hold these CLQ shares and it nothing to do with what they have or don't have, it purely about how their executives and BOD have behaved recently as apposed to AUZ BOD and management. I hold a large parcel of AUZ and just think some may be interest to see how management types differ, fingers crossed AUZ do the same to maximize shareholder value.

This was their recent announcement dated 20 Jun 2020 Clean TeQ Sunrise Project Update

The Company remains well capitalised, with approximately $42.2 million of cash as at 31 May 2020.In order to sustain the group’s cash reserves for as long as possible while we continue to seek funding for the Project, a range of measures are being implemented which reflect the fact that the level of Sunrise Project activity will significantly reduce over the next few months once the PEP is delivered.
These include:
• A substantial proportion of the Sunrise PEP study, engineering and support teams will be demobilised during Q3 as workstreams relating to the PEP are completed
.• The Clean TeQ board of directors has reduced total non-executive director fees by approximately 40%.
•Key Management Personnel (MD/CEO, CFO and Sunrise Project Director) have agreed to a 20% reduction in their total fixed remuneration.
• A higher proportion of senior executive remuneration will be ‘at-risk’, to minimise cash awards under the Company’s short-term incentive plan. Although subject to periodic review by the board, it is intended that these remuneration adjustments will remain in place until funding has been secured for the Project.
• A pay-freeze has been implemented for FY21.

GLTA I think we will need it.

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AUZ Price at posting: 0.9¢ Sentiment: None Disclosure: Held
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Perhaps AUZ bod aren't ready to throw in the towel like that...

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Perhaps AUZ bod aren't ready to throw in the towel like that...

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