Its clear the board (aka Rebecca) is fighting this as hard as possible. The level of detail in this announcement is amazing, when compared to other public announcements made by the company. Its almost like this is the most work they've done since raising capital. I wonder if Rebecca is taking this personally?
Interesting to note is if the proposed board changes are passed then Rebecca loses majority control of the board. There would be 5 directors with only 2 votes on Rebecca's side. Its clear this is what Requisitioning Shareholder is aiming at
Reading between the lines i suspect the existing board is out of touch with the market. Im here for the Hillside project. I dont really care about their other long term projects in Argentina. They have had years to progress these and im not seeing results. Recent deadlines have slipped, covid has thrown a curve ball making it hard to get overseas, and we just havent seen results. The board havent adapted - they needed to pivot focus to hillside in my opinion, and with these new board members i believe they will.
They lucked out with hillside. I think its a cracking project - were still waiting for permits. Wheres the drive? the updates? There are more updates in this notice than all the previous notices put together. Not good enough!
The existing board have had their chance -multiple capital raises and shareholder dilution -consistently missing deadlines -lacking communication and updates to market -slow to adapt -potential lifestyle company looking after themselves and their mates, not generating shareholder value
Im voting For !
PNN Price at posting:
25.5¢ Sentiment: Buy Disclosure: Held
