Ann: Quarterly Activities/Appendix 5B Cash Flow Report, page-82

I think that the description is incorrect and the bulk of that amount will be identified as the $450,000 payment to Anderson.

Not a good start if this is the case for the new secretary, given that he is also part of some boutique corporate advisory service "Geneva Partners" with his expertise amongst other things being Corporate Governance.

Good luck with the email, but if they cannot be bothered replying to mine, and or making a correction announcement to include the right information, then they can answer the ASX.

There is a point that gloves need to come off, including if it is to the detriment of any outcomes as a holder of shares in FFX.
Lowe needs some time, but doesn't exclude the secretary being able to clarify (IMO) perceived discrepancies in announcements, it is one of their duties!!
Their IR is abysmal, I can't remember at anytime it was this bad.

As for Fraser on $3k a day !!!! that would be inclusive of his elevated chairmans role salary too I hope!
I recall a back and forth email exchange with the company, and it was centred around:
~ how many hours constitutes a day in the life of a director, bearing in mind that they are usually:
-- on multiple boards,
-- partners or principles in some boutique advisory service

The discussions also included the directors get paid additional fees to attend Company committee meetings and whether these meetings take place during the normal course of the business day or they are held after hours, hence the extra fees.
Excerpts from emails:
~ Can you advise how many hours per week or how many days per week the directors salaries entails being attributed directly to services provided to Firefinch Limited? -- Including any monetary discounting for unavailability if a director was abroad in an official capacity with one of his other businesses/directorships and/or any time (hours/days) to be made up and no extra expense to the company when said director was unavailable.~ have all the directors officially indicated that their other interests will not impact on their respective roles on the Board of Firefinch?

Reply: Time allocated to Firefinch

There is no set number of hours per week that is required to be dedicated to Firefinch, all directors have given indications that they are able to dedicate sufficient time to Firefinch to carry out their duties. As you can appreciate, when there are key events such as capital raisings, demerger meetings etc, that there is a substantial amount of time dedicated to achieving these events. Analysing on a per committee basis does not adequately indicate how much time each director dedicates to Firefinch in excess of what they are expected to do.

** This was an intriguing reply given that there is no set hours per week required to be dedicated to Firefinch, but the company pay extra to attend committee meetings based on an excess of what they are expected to do.

++ Based on the above reply, I calculate the directors appeared to have dedicated 30 mins a week to FFX given the performance of the company!!!

At one point the naïve fooca believed that directors wanted to perform at their highest level and in the interests of the shareholders that approved their appointments by way of voting, the real world is brutal and it is really "pigs in a trough" that has infested common decency and integrity as more and more evidence of "money gouging" when companies are on their knees, and this is no exception . . . Opinion Only of course

The skillsets that come with a director (in this case Fraser) should be utilised to enhance his director's position and not to [expletive deleted] put your hand out for additional fees.

On his appointment: 11th November 2020
"Brett is an experienced ASX company director, currently holding a position as Director of central-west African iron ore company, Sundance Resources Limited. Brett's deep knowledge (acquired over 30 years corporate finance experience) will be a great asset to the Company, particularly regarding business acquisitions, business strategy and restructuring, and corporate governance.

~~ Interesting these are not included in his resume . . . .
> sole director and largest shareholder (via Pinewood Assets Pty) of Wolfstar group
https://wolfstargroup.com.au/about/our-people/
> director of Geneva Partners with Usher
https://genevapartners.com.au/about-us/
~~ lets not mention his directorship during the debacle at Sundance Resources

Bottom line is,
~ like MEIM that under performed BUT we have chosen to kiss some royal backside and they were to be rewarded with a sheet load of FFX shares with eventual access to the equity of the LLL shares
~ Fraser is having his share of rewards with a $3,000 a day payment for consulting services . . . . on top of his elevated salary as the Chairman (which is circa $900 / day x 7 days a week), throw in the $6,000 per committee his sits on!
~ One plus for him I guess being both businesses have the same "place of business." and it's only a 3 kl walk to the FFX office.
** One wonders where he gets the time to dedicate to FFX with running his 2 consultancy services, ohhhh thats right there is no expectation to actually dedicate time to the company as per the reply I received.



@dazaliam MEIM, MEIM, MEIM >> bahahahaha
Fraser is my new "trigger."

Where do I sign up?????

cheers