still no news as to whether McClure is still director.....it was two years ago he was placed on a "directors agreement" for two years at 450K pa
Another year has gone, and its worth reflecting on the destruction of capital by your board. The share price was as high as 23cents, in fact, a SPP raised at 16.5 cents.....Unmarketable parcels were bought back and cancelled at 18.5 cents (smart!!) ( those holders were the lucky ones!!)
Now, despite all the trumpeting, and silver conspiracy theories, here you are at 4cents, with the top 2 holders, Paradice and Blackrock, beating themselves with stinging nettles over such a terrible capital loss.
I wonder, if anyone bothered to take a look at the company that did the deal....SIHA.....probably not, for if you did, you would have noticed that the original directors were none other than the directors of SVL prior to the deal....that is....Nathan Featherby, Saxon Ball and Darren Holden. Your secretary, Trent Franklin was in on the scam,as was his father. McClure was in on it, but only as a shareholder in SIHA. I wont put up the ASIC search as it contains personal details. in fact, any serious trader should have done the search themselves as due diligence.
I have said all along that their prime objective was to get the EIS out and claim the 20M milestone shares, on top of the 40M they got for flipping the project on the very same day they acquired it!!
No doubt, they must be pretty burred up that the plan has turned to crap, with their ill gotten gains withering by the day.
This is on top of the other issues of the project, such as power, and water, of which both havent been fully confirmed as available yet.
it has been a great shame to see hopefuls buy in and get burnt, whilst waving away warnings of the problems ahead....indeed, many of the "faithful" are now, no longer seen here......
So, is Mr McClure ready for another year of misery?....he doesnt have much choice as he needs to see this through in order to collect the spoils, if there is any left
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