Still waiting for any news regarding an EGM, perhaps this week...

Still waiting for any news regarding an EGM, perhaps this week coming with the release of December quarter results.

The whole share loan scheme is particularly smelly IMO, I don’t know where this would pass the old pub test, especially considering FEX is paying fat dividends that will easily cover any repayments or payback scheme. And to add, as far as I can see, there is no escrow on them either whatsoever.

Performance shares or similar would be fine as an alternative, so I’ll be voting NO to the share loan scheme unless there is something brought to the table by JW that will provide value to the company before these effective freebies are issued.

If these shares are issued, with the current SP he would be already $600k up, and I expect further SP appreciation as we move into the Chinese summer, and high grade ore attracting bigger and bigger premiums with China’s energy crunch. Add an approximate 3c dividend to come from H12022, a $900k walk in the door welcome to the family (if not more by the EGM) is not appropriate IMO for a company currently worth ~$146mil.