My Thoughts
Warren Hallam
At MLX, Warren Hallam couldn't get the mine up and running. At Millennium Minerals, both James and Warren ran it into the ground and wound it up. It appears KFM is a retirement gig for him. He's just running it into the ground, focusing on surface exploration and getting paid. Warren has never delivered good results for shareholders, moving from one failure to the next. It's interesting why he doesn’t put his name up for KFM CEO. It looks like he wants to stay behind the scenes and become the puppet master due to his history.
James Fareall
Why did he resign? James wanted to drill by 2024, but I think Warren didn’t want that. Now, a new guy is put in as the front face of the company, doing surface exploration. WTF.
What Can Be Done:
- Wind Down Administrative Expenses: These have blown up by over 70%.
- Exploration Expenses:Why its -30%?
- Close the WA Office: Switch to a work-from-home model.
- There's no need for an office in WA when the tenements are elsewhere.Send Warren Hallam on Unpaid Leave: What value is he adding other than sabotaging exploration?
- Full Port Drilling: There's no point in conserving cash while administrative costs are eating it away
- .Be Attractive for M&A: Position the company for mergers and acquisitions when the REE market rebounds.
Who Calls the Shots:
It seems like Tim Neesham (major holder) and Warren Hallam are in control.
