The hurdles directors have set are very low and if reached, offer no value to shareholders.
So lets call the proposed share rights from Res4 what they really are, bonus shares.
As the shares, if passed add no value to the company (issued free), each holder is actually gifting 5% of their holdings to directors. So you give up 5% for a 6mt Li @.8% eq resource at Blesberg.
Who can be happy with that, other than directors?
I hold 5m shares so if Res4 is passed, I am in effect transferring 250k of my shares to the directors.
No thanks.
Ann: Notice of General Meeting/Proxy Form, page-26
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