re: Ann: Notice of Annual General Meeting/Pro... Following a review of the AGM announcement, one of the resolutions is to provide 600000 "free" unlisted options to our esteemed Managing Director Simon Milroy. I am curious if our board has been spending too much time in the same room inhaling their own fumes. This team has successfully presided over an immense destruction of shareholder wealth through a poorly considered 10 for one aggregation when the share price was 13.5 cents per share or higher and we can see how successful that cluster#### turned out with our 10 for 1 share price at 9 cents today. The we started up a low grade gold mine and then mothballed it when the costs got out of control and placed it into administration with a DOCA requiring additional funds to sort it out. They have almost achieved a 100% strike rate for destroying shareholder investments. Like many others, these shares a re so far into the red that there is no choice but to hold on for grim death....
So now our academy award contenders for the best supporting actors masquerading as a Board want to further award, or enrich the leader of this troupe of pretenders to obtain at no personal cost - more shares. This is in addition to his salary of $270,000.00 which 99% of shareholders want probably enjoy..if we could get it. Our MD is generously paid, more than he and our board realises for their efforts. Seriously if they were upon performance contracts, they would be all paying back their salaries and personal funds for their outcomes. In any other industry, your pink slip and termination papers would have been waiting for you.
So I am suggesting to each shareholder that they need to send a very clear and resounding rejection to this resolution and any like it for this motley crew (apologies to any Motley Fool subscribers.
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