What you are saying there is that the board had knowledge of the drilling contract and the related interest, but the press release from X64 on 5th July states
Having knowledge from a discussion, is distinct from a written disclosure as required by their contract of engagement.
This is a civil dispute which should be solved, via court action, not takeover action. Why dont you allow the Supreme Court proceedings to play out first? Then share holders could make a more informed decision based on the exoneration or conviction from those proceedings.
Regarding the second paragraph under the heading of "Performance Concerns" on the http://x64action.com/ website, I feel the staements made are quite myopic. To quote
Whilst the SP has remained fairly flat over the last decade, X64 has tracked the GDXJ quite closely on a day by day basis for the last 2 years.
For years 2021 and 2022 X64 made NPAT $63M and $4M respectively, not losses.
In relation to Market Cap and EV , you know full well ALL gold producers have declined from Gold's Aug 2020 highs, so it is false to make out that the company is somehow unique in this regard. Here is a summary of share price delines of the Aussie goldies form their Aug 2020 highs..
The current board and past boards may not have been perfect, but integrity has to be at the forefront. Im not convinced by the arguments of the takeover activists, but court action is pending anyway.
(20min delay)