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Ann: Director Appointment/Resignation, page-12

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CFC_WA14

127 Posts.

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15/03/23

23:09

Post #: 66789385
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Originally posted by V10: ↑

Gentlemen,

Some of you have never run a junior oil and exploration company.

If you had, you would give Iain Smith a vote of thanks for staying on the board of Norwest once handed 'the poisoned chalice' of being Managing Director of a listed asx company with a major shareholder with 19.9%. No one, especially Minres, goes to 19.9% of a listed company unless ultimately plan to take it over.

The great success at the wildcat Lockyer Deep-1 ensured the fate of Norwest to be taken over by Minres. Credit for this success should go to Shelly Robertson and Iain Smith. This success at LD-1 should soon be followed by expected success at L-2 and NED-1, if all geological and geophysical prognostications are proved valid.

While Iain has been MD, Norwest has gone from 0.2 cents to 6-7 cents.
For this I am grateful as a shareholder.
Sure Iain has been amply rewarded for the success achieved and rightly so, IMHO.

One positive for Iain Smith being 'given the opportunity to advance his career elsewhere'- polite expression for 'your'e fired', is that his name and reputation will hopefully not be sullied with any more abuse from hot copper posters.

So we await the rights issue from Norwest and the price. As I have posted, my money is on the rights issue going out very soon, being underwritten by Minres and the issue price higher than market to reflect the undervalued share price for Norwest.

I will be taking up my rights.

DYOR

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Will have to disagree, I cant be bothered typing, more negative, automatic moves decisions by BOD than rather successfull managment to shareholders, same to say its like a guy preaching financial advice when he wins lotto, I challange what he did as MD strategy wise to gain/achive the best for company.
15 Upvote

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