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0.8¢ andromeda metals limited

Ann: Prospectus - Capital Raising, page-50

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Youngie75

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28/08/24

09:36

Post #: 75408090
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Originally posted by ThePig: ↑

The question I've submitted for today's webinar involves funding (obviously).

I want to know who is now conducting the negotiations on behalf of the Company now that Bob has departed? They need to engage someone with serious punch who has the contacts in Europe to secure the required funding.

Meanwhile, back in the land of Oz, this is what I believe the Company needs to be doing right now to ensure success.

1. Luke Anderson has to buy shares on-market as soon as the current blackout period concludes. The MD/CEO has to align themselves with the long-suffering shareholders and get in the trenches with us.
- Don't forget that the Company requires all Non-Exec Directors to purchase shares equal in value to 50% of their base salary within three years of appointment. To date, we've only seen Mr. Perrin purchase one tranche valued at $38,889 back in June 2023. Ms. Higgins owns zero shares since arriving in February this year. At least Mick Wilkes has purchased a fair few on-market.
2. The Board need to announce that they will reduce their remuneration packages for this current financial year. It's a sign of good faith to shareholders that they acknowledge that the market cap has taken a huge hit and funding is being excessively delayed. This will preserve cash/reduce costs in the short-term.
3. There needs to be a review/jobs analysis/re-structure (however you want to call it) of all job positions at the Company. I call it a 'test of essentiality.' If the job position is not essential to the current operation of the Company then something needs to happen to that position. The Company cannot afford to keep burning cash at its current rate.

All is not lost - yet!

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Hey ThePig,
Any chance you could amend your question to include,
"Specifically how many funding negotiations have commenced and not been successful, who with, and why?
Then include your question,
"Furthermore, who is negotiating now, with who, etc,,,, ?"

save doubling up on a similar question.

I can't make the webinar, so some reimpose from you would be appreciated.

Thanks mate.

Youngie.

ADN Price at posting: 0.9¢ Sentiment: Hold Disclosure: Held
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Ann: Prospectus - Capital Raising, page-50

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Ann: Prospectus - Capital Raising, page-50

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