This is damning in my opinion.
So let me get this straight:
- CEO resigns right after a positive scoping study
- Still no CEO appointed which suggests no one is willing to take the role in given current leadership
- Our Chairman 'resigns' from Nelson Resources (NES). It now appears a shell based on the current share price and the raise they had to do recently.
- Share Price drops 50%
- Notice for AGM comes out saying the board has decided Greg Jones should be up for election, however they vote Glenn Simpson up for election
- In the same notice for AGM, the board propose they are to receive another 500,000 option each at a ridiculous strike price
- Glenn Simpson then resigns as a director
- Yesterday, the board retract their resolution to receive another 500,000 options each (as above)
- Today, shareholders move for an AGM to have the chairman stand down and then Glenn Simpson to move back into Heavy
- Our chairman is up for re-election over at Kingfisher Mining next week. I will be watching very closely at the for and against there.
There are just too many 'coincidences' here to be brushed off.
This is now very concerning.
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