Ann: Placement Completion, page-25

I thought it is plenty clear... as the X board, you had two options.

i. Do the bare minimum, earn hundreds of thousands of dollars in salary

ii. Drive yourself nuts talking to multiple parties, begging them to do business with you, acting like a dog begging for a bone .. any bone! from counterparties who would be hard assed negotiators knowing they've got the upper hand and BGS was a poor company with NO financing, NO backing, NO investments. Roughing it out in Africa with tough foreign political games to obtain permits and authorizations. Flying up and down to Europe, China, Asia, America, to conferences spreading the name, spreading the work.

All this work for ... the same hundreds of thousands of dollars in salary, plus some options that may or may not eventuate. A payout that may or may not happen. And even if it happened, I don't think it was worth all that effort and hard work.

I know what I'd choose in a heartbeat. The easy (and still lucrative) option 1.

It's not like they're out of a job if they got kicked out. It's not like their reputation is stained. They've got a perfectly fine BOD job in another ASX listed company, paid squillions there. I think they'll easily get another job anywhere else... in the small cap world, it's not easy to find directors. They'll be able to be directors elsewhere easily.

The problem is as mentioned somewhere in a post above, there are NO repercussions in doing a bad job.

In the regular job market, if you did a bad job, you're finished. You won't get a good reference, there goes your career.

In the small cap, micro cap and nano cap director market, nobody actually knows how well you did in your last role. Only say if you were CEO of Telstra or CBA and you did a bad job, you might have a hard time finding another gig.

As BoD of Kodal or BGS or AVZ, if you do a shit job, who cares? You'll easily be able to direct another company in no time at all, and one that pays $300-400k per annum in fees too.

In summary, the problem is there are no consequences for poor performance. If I could be a director in this space, I would do it 100%. It's all upside no downside to be completely honest.