Thanks Luke, that's great to see the filing detail.
So as the document indicates, CGB have employed Birchall Legal to act on their behalf and as you say, they have
outsourced legal representation even though they are tooled up to the hilt with in-house reps for legal issues.
So if
@workingdog might be looking on here, this unnecessary expenditure might go some way towards dispelling his/her hopefulness that "you would think management are trying to get the best deal for shareholders"
Now then - are Birchall Legal a 'related party' is the next question ?
For those who aren't familiar with history here, one would do well to do a bit of research on 'Diamond' Joe (Joseph) Gutnick (Sholom Feldman's mum's {Pninah Feldman} brother) to see about 'secretarial' services provided by the Sydney Yeshiva Centre which at the time had been owned by Diamond Joe and subsequently had to be bailed out by the family for owing Commonwealth Bank on a $10,000,000 mortgage due to his declaration of bankrupcy.
My point is, why outsource legal representation and induce fees which are not in the
best interests of shareholders when there's already more than enough clout in-house to deal with legalities ??
Here's a challenge then for
@Neil1959 - Neil, within your regular communication with your previous client (CGB/Sholom F), why don't you approach this issue of paying Birchall Legal as an unnecessary expense on shareholder funding and share the answer here on HC in public.
This issue will also be raised in the November AGM so that verification is put in place.
So this now raises yet another question of the responsibilities of the Managing Director.
Why do you have both a solicitor and a lawer (practiced in Commercial Litigation) on the BoD when your preferred path on said Litigation is to outsource such services ?
Are those licences for practice current ?
Is it also appropriate to have a qualified Geologist on the team as a fulltime employee ?
Granted Dr Robert Coenaads may bring many other personal attributes to the company but these skills have never been explained to shareholders either. From memory he had been on a contract of $300K p/a which was yet another shambolic waste of shareholder funds towards an ASX listed Bauxite business of which the only success was to line the pockets of those who claimed there was a legitimate opportunity for shareholders to garner a return on their investment, yet 10's of Millions of dollars later - absolutely nothing has changed for the better.
