I have lost all trust in Ryan Welker and Nicholas Williams after reading the initial response of the company and I don't see how anyone could support them after reading this :
http://x64.gold/investors/protect-your-investmentI have not seen any denial from Mr Welker or Mr Williams regarding the existence of this drilling contract and the hundreds of thousands of AUD spent over approximately two months with a company they have interests in: Ranger Equipment Pty Ltd.
A managing director allowing a contract to a company where he has a direct or indirect interest is absolutely inexcusable to me. And the fact they would call this contract " Very Low spend " when trying to defend themselves is shocking. Does any of you consider a more than $290 000 contract over two months to be "very low spend " ? Does anyone think such a behaviour is ethically acceptable ?
Who knows what would have happened next if the board did not protect the shareholders interests by putting an end to this contract and removing Welker and Williams .
Moreover, I would be very interested in having more details about this employee who according to the document in the link decided to resign of his position from X64 Qld after "Mr Williams had insisted Ranger Equipment perform the surface drilling " , "Mr Williams had instructed the employee to drill beyond what the employee believed was appropriate " and " The employee had resigned from their position with X64 Qld in order to protect their professional reputation ". Can you imagine how bad things must have gotten for someone to leave his job just to protect his professional reputation ?
I therefore do not and will not entertain any of the resolutions proposed by Vitrinite, Welker or Williams and hope that the board which I fully support will lead us as far as we can from these people.
I do not know the exact links between Arbiter and Ryan Welker, does anyone can explain me how they can morally and ethically justify supporting these activist shareholders in removing the board that protected shareholders from them ? Does Arbiter approve of company directors giving a contract to an entity which is connected to their interests ?
Just do your own research on each person involved and study carefully each person's background and actions. Everything is quite clear for me after reading everything I could on this subject. I will stand for the current board because they have shown a great integrity.
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