Ann: MD's Company Update - December 2021, page-292

Hi All

Not the greatest forum for it but I am going to throw this out there to at least expand on the conversation we have been talking about this morning and potentially go down the road of a Section 249D.

I believe we need to do something to try and make sure that 2022 does not turn into a repeat of 2021 (and quite frankly the history of the company)

I am strongly considering putting myself up for the board and will also consider the removal of a current board member within the proposed resolutions spelled out in the proposed Section 249D.

I am currently the CEO of a family owned group of businesses. While I certainly keep myself busy I have General Managers in each business to deal with the day to day running of the business and it is my role to coach, deal with strategy and hold teams accountable to delivering on our Quarterly, Annual and long term priorities. I think while I am not a geologist, I have a skill set that would work well when surrounded with a team of geologists that Inca has in different capacities. (the same way that not all geologists have any place running companies) Given our investment and where I think this company could go I am happy to put in the time to try and help make this happen.

I have been dealing with the company for a couple of weeks and they are aware of my lack of confidence in the 2022 planning but I have been unable to get the information required as of course I am not part of the company or board and information cannot be shared. I can almost guarantee that while 2021 may still eventually be successful if we are lucky at something like Mt Lamb that we will still have missed opportunities at places like Jean Elson and Macauley Creek.

The company only ever plans for one path and never has contingencies. It cannot continue. Few seem to be able to accept that 'we are only delayed for a couple of months' but when it happens year after year it is not a simple couple of month delay, it is a fault in planning and drive within the company. From an outsider looking in, it is evident to me that the hardest working people in this business are either Non Executive or Consultants.

The companies I am currently running are TCD Group, Aaro Group, HydraStorm and D&M Waste Management. Currently we employ around 280 people with an additional 100 contractors.

TCD Group is a Civil Construction, Dewatering and more recently SMP contractor with major clients being FMG and Albemarle.

Aaro Group is an infrastructure maintenance company specialising in pipelines with major clients being Rio Tinto, BHP, FMG and the Water Corporation

HydraStorm is a precast concrete and plastics manufacturer

D&M Waste Management is focussed on the collection and disposal of bulk waste and green waste services for many of WA's local councils

HydraStorm and D&M Waste Management are both currently building an integrated recycling manufacturing facility which will allow us to recycling HDPE plastic into new HDPE corrugated pipe. We have recently signed an agreement with one of Australia's largest plumbing and civil distributors and we will begin delivering recycled pipes Australia wide for the civil and plumbing markets.

In addition to my experience I have a network of ASX Directors, Large Investors, Family Offices and brokers that I believe could be of benefit to the company in the future.

HotCopper is not necessarily the best forum for communication of such matters but while I have a relationship with Dr J and people like Kalenn I cannot approach people for email lists etc as it really would put them in a compromised position and that is the last thing I want. Regardless of what happens I only want what is best for the company and creating any extra drama is the last thing I want.

I accept that I could fall flat on my face here and this be regarded as a bad idea by the shareholder group and that is fine, I am confident that if given the chance that my interests are aligned with the shareholders and my skillset would be an asset to the company.

Any commentary would be appreciated, I am going to keep progressing on my end and if it looks like something that shareholders would like to explore I will post and email address and phone number later on in the day.

From my end it is a win-win, I may get on and provide value or I may get voted down but help put a fire under current members on the board to understand that as a shareholder group we believe we have some potential company making assets so lets get down to the job of making a company.

Thanks, good luck to all