DNK 0.00% 8.8¢ danakali limited

So this is the issue with this board and management: the best...

  1. 27 Posts.
    lightbulb Created with Sketch. 10
    So this is the issue with this board and management: the best that they have come up with as a strategy is: (1) an application for an exploration licence in Eritrea for copper/gold (being resources that they have no relevant operational experience or expertise in); and (2) a "review of opportunities in the Arabian-Nubian Shield". How is "an application" and "a review of opportunities" going to get the Company re-listed in the near-term? Moreover, how will this deliver value to us as shareholders? It looks like a "whatever" approach - just get something, doesn't matter what and it doesn't matter about any genuine strategy for exploration and development of good assets in a jurisdiction without significant dominion risk.

    Looking at this Quarterly Report along with the Announcement of 24 April 2024, where the following hollow statements are made:

    · “Board continues to explore additionalinitiatives ahead of re-listing”

    · “A fresh direction with a new portfolio ofexciting assets

    · “[Working] through disciplined due diligence on a number of strong exploration and development projects

    · “In anticipation of the change in focus when new project acquisitions occur…”

    · “[Moving] into a new, exciting phase

    And looking at the reporting period to 31 December 2023, and what board and management have been doing (or not doing, really), shareholders need to ask what work the Company has been doing to deliver a strategy aligned to the shareholders' interests (apart from Cornelius' interests as a shareholder) and the Company should explain why the Remuneration Report for 2023 should be endorsed by shareholders. The remuneration is supposed to be aligned with the shareholders' interests and reflect the appropriate reward for good work done by executive management. This is not evident for DNK and I can see no justification for the additional bonus payments to its Executives. I will not be supporting the approval of the Remuneration Report.


 
watchlist Created with Sketch. Add DNK (ASX) to my watchlist
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.