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Ann: Director Appointment/Resignation, page-59

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piggywig

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15/12/15

20:06

Post #: 16621134
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Originally posted by tobyjack ↑

It's clear he didn't resign because he wanted to spend more time with his family, so let's not even go there.

The tone of the MNS announcement was clearly "negative" - short/sharp and to the point with very few "niceties". The reason for his departure was only made evident via another company's announcement, and it left MNS shareholders wondering what happened and why. Had the MNS's ann been handled differently, there would not have been the need for speculation.

How long had Hunt been planning his departure from MNS? It doesn't just happen overnight.

When was MNS made aware? Was it yesterday and he was asked to resign immediately because it was seen to be a conflict of interest? I would be very surprised if this was not the case. No replacement was announced in the ann means they haven't had time to source a replacement.

What intel does he take with him to the other company? I assume he was involved in some of the meetings with potential financing partners/off-take partners/meetings with SINOMA and Chinese Govt authorities (the ones mentioned in the announcement today that are continuing) - that was his expertise, wasn't it...."Stephen has significant world wide minerals marketing experience which includes more than 16 years with BHP, marketing various minerals and metal".

Matt72 states Hunts roles was "fleeting" and he played a "minor" role behind the scenes - yet he was the second highest paid director behind Frank. Hunt's departure means, if I'm right, MNS now only has 3 directors - which is the minimum - and one of the remaining 3 only took up his role less than 6 months ago. With all the issues mentioned in today's ann that are being progressed/concluded that involve some big decisions/negotiations, people here seem to be putting all of the heavy lifting on a few shoulders. The reason for having Boards is to have a wealth of experience to draw on to help management make the right decisions - it's not a one man band. If it is, that's not healthy for shareholders.

On the site where Hunt has taken up a position it is remarked they managed to snag "the founding director of Magnis to become its chairman, as the company seeks to leverage Hunt’s experience in the graphite market to talk to end users" and "It is thought Hunt played a leading role in securing offtake deals for Magnis’ graphite,". The truth between what MNS holders are saying and the other site is probably somewhere in the middle.

What possible MNS contacts could he take with him to this other company?

There are many ways of looking at the sudden departure of key people.

If you are happy with your views on the issue then nothing else matters. Others may want to take a different view. There is no right or wrong without all the facts known and in my experience companies rarely give the real reasons. In the meantime it's opinions left right and center - I've got mine, you yours and others theirs.

At the end of the day, your money your view that counts, but don't put others down for expressing their view - you never know they may have more experience in these matters.

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What's the big deal with Stephen Hunt being shown the door. Obviously there is a conflict of interest and he has to go. He may have been involved in the Chinese deals but to say he played a major role is a bit fanciful. That was his job and if he wasn't around then someone else would have done it.

At the end of the day the customers will only buy the product they want and if our product is as special as we are being told then it wouldn't take much to get them to sign offtake contracts. Let him take whatever secrets or contacts that he wants, we are so advanced compared to them it's not going to make a difference.

MNS Price at posting: 37.5¢ Sentiment: Buy Disclosure: Held
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