Ann: Investor Presentation - RIU Explorers Conference 2022, page-72

Exactly as you say Wilbur, spinoffs are a great way to repurchase a small portion of assets you already own and have payed to develop. Great for the directors, potentially another BOD to sit on. Given the big smirk on ARs face and the barely supressed giggle when he divulged this to Samso, he seems to think he has a shot at getting on another board.
Given the lack of announcements about progress at Mt Lindsay or credible timelines for drilling, development or forming a team to deliver anything, has anyone changed their mind about voting down the next remuneration report? I dont think the BOD have got the message, they seem to think everyone was angry about the flop with iron ore, which they say was a price and shipping cost problem out of their control. Not the length of time to develop and lack of updates provided. I still dont think they get it that most SH want clear direction and timeline on what we can expect, not just a rehash of the same info in every announcement that is a decade old. They took the money in the last CR but have still not delivered a plan or timelines or the much talked about project team to go with the cash.
At this stage I think the BOD need to concentrate on doing enough to justify retaining a spot on this BOD, not worrying about how to start another. I think JJ is the next to retire by rotation (I might be mistaken) whos putting him back on the BOD? I think most SH are going to need to see some serious progress very shortly or they go.