@apkjm thanks for the replies, finally a company (management) supporter that can actually debate the contents of a post rather than turning the threads into a side show of egos that are more intent to kill any debate with utter rubbish, food recipes, exorbitant price predictions, unsubstantiated ramping, questioning non holder motives and can't (not a case of not wanting too) counter debate but all designed to detract from the poster/s perceived flaws in management and/or project/s of the company.
The question around how many days until the meeting was exactly that, in your original comment, the way you worded it was suggesting the "meeting" was in a few days ........
re: post
"
Shareholders meeting only a few days aways, the notes should make for a interesting read."
From memory you are the only poster that has actually touched on the worth of Hamersley as a saleable asset versus the company's view on the projects value attributed to it for financial accounting purposes, (to which, that is the same nil value I have been suggesting) and not an asset sale value.
I admit, that considering what will be involved to prove Hamersley (based on information in Company announcements) I have said I didn't think it could/would be sold. Normally when I have been shown to be wrong I would simply apologise and retract my opinion BUT not in this case though, as I don't see the divestment of Hamersley in this agreement as an asset sale per se, basically because of what PF1 shareholders are NOT getting, and by how much assistance and the amount of work and cash (loan) PF1 is providing towards Equinox and its IPO.
I note with interest that your confidence of Hamersley being progressed was attributed to the "new" team and management of Equinox, a bit of a slap in the face for PF1's management? but there really was no option other than divest.
The difficulties of getting Hamersley progressed do not just disappear with the new management, as for the directors of Equinox:
Daniel Taylor:
His experience basically all centres around sales and accounting with very little involvement in a brownfield exploration to mining project: so when it comes out of the ground he will be able to sell it .........
Ruralco Holdings (Jan 98 - Jan 20) -
Marketing Assistant - Combined Rural Traders
Rio Tinto - (Jan 2000 - Jan 2002) -
Senior Marketing Officer & (Jan 2002 - April 2004)
Market Development Executive - Dampier Salt
Rio Tinto - (April 04 - April 06) -
Senior Market Analyst, (Jul 06 - May 07)
Manager Logistics Operation (Jun 07 - Jun 08)
Account Manager
Atlas Iron - (July 08 - Jul 10) -
Senior Marketing Manager
Anglo American - (Jul 10 - Sep 11) Chief Operating Officer -
Global Marketing - (Management of the
Sales team Kumba & Minas Rio I/O)
Roy Hill - (Sep 11 - Aug 17)
General Manager Sales and Marketing
Yarrum Iron Ore - (Aug 17 - July 21)
Co-Owner -
[COLOR=rgba(0,0,0,.9)]High-grade boutique iron ore project [/COLOR]
under development by Fe Limited
[COLOR=rgba(0,0,0,.9)] (FEL.ASX) in the Northern Territory - r[/COLOR]
[COLOR=rgba(0,0,0,.9)]esponsible for investor roadshows to secure project funding etc
Norman Beach Private Company - (Jan 18 - present) Director -
[COLOR=rgba(0,0,0,.9)]Advisory focussed on the acquisition, funding, development, sales and marketing of product and assets in the iron ore, Graphite, Lithium, Energy Storage, others[/COLOR]
Callaghan - I have previously post on his appointment, and the continued emphasis re: "the" founding director of Riversdale Mining Limited (formerly ASX: RIV) which sold to Rio Tinto for $3.9 billion
is IMO just fluff:
Was Callaghan
the
founding director or
a
founding director?
- Considering that he was one of 4 directors of Wave Capital, prior to a name change to Riversdale as per a historical ASIC extract.
- Callaghan was the shortest serving director at the time, Shervington, Rankine-Wilson and Rees appointment dates of July 2003 all preceded Callaghan's appointment date of
21st June 2004
when the name changed to Riversdale on the 30th July 2004
IMO
, makes them all founding directors? and not just Callaghan
the founding
director, furthermore
Callaghan
resigned from Riversdale
11th August 2006
, it wasn't until 27th November 2006, the undeveloped Mozambique project was approved, and it was
early 2011
that Rio Tinto launched a take-over bid for Riversdale which was finally achieved in
June 2011
- 5 years after Callaghan resigned.
- Callaghan's was appointed as the Managing Director of the South African acquisition (Riversdale Anthracite Colliery)
- In the announcement of Callaghan's PF1 appointment, Green quoted "Callaghan is currently based in the Americas affording him with
easy access to our project in Argentina"
Using the fluff "a founding director" and "sold to Rio Tinto for $3.9 Billion" in Callaghans bio, would be the same as Myers using in his future bio "a founding director of PF1" if it became a $Billion company! although he won't have been involved ......
Habib
Obviously from his short bio, another salesman!
NO previous experience as a director of an ASX listed company.
I do note that Habib has entered PF1's Top 20 shareholders list - (list 14th May), sitting at number 7
I don't quite share your confidence/ optimism of this "new" management team of two salesmen and a director that is based on the other side of the world and due to the ongoing Covid issues will not be able enter the country to assist with the progress the Hamersley project.
I'm sure that the BOD of Equinox will be able to draw on the experience of Green and / or Taylor could tap into his resources and utilise the business relationship he has with FE Limited.
I also don't share holders optimism of the value estimates of Hamersley considering that an
I/O project that is a "hot commodity" right now, in a super cycle, with
large companies in the vicinity of the tenements were IMO either not interested or the company had rejected offers to then divest to IMO (again) a hastily formed company that was only incorporated and registered on the 25th May 2021 that couldn't / didn't fill all the board positions with experienced directors, appointed Callaghan onto Equinox and relying on hand outs (loan) to get an IPO to then list on the ASX.
@MeToo a fun fact for you, Taylor and FE Limited link
For another tit bit of information, Brewer has not sold his shares
cheers[/COLOR]