I think that statement needs to be taken in context of the broader commentary from the Chair and Director. One thing is clearly obvious, they want the stink of CE to wash off quick smart, and the fact they are employing, appointing and shifting everything and anyone to make it happen speaks volumes. I note, if others chose to read the entire Chair and Directors statement, you'll note that CE has a response at the end and doesn't even have the benevolence to simply apologise to shareholders.
There will be more fallout - read between the lines - "While work has been ongoing to uplift these systems, we also recognise the need for accelerated change to better reflect MinRes’ status as a major ASX-listed Company. As an immediate action, MinRes has introduced an independent Ethics and Governance Committee to the Board. This body now oversees the Company’s compliance efforts and supports MinRes’ ambition to meet the highest legal and ethical standards going forward. The Committee’s charter can be accessed on our website."
There is obvious concern in CE's interactions with other companies and associations - see my previous questions raised regarding my paranoid concern at our association with MINs 19% stake. IF there are no concerns with the courtship of this arrangement then the 19% stake will remain. If they offload their shares, then it will prompt additional questions, and in turn our mgmt had better have damn good responses.
GLTAH
WC8 Price at posting:
26.5¢ Sentiment: Buy Disclosure: Held
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