SGQ (ASX) Ann: Results of Annual General Meeting

Originally posted by mulac1: ↑

Hi there OT,
I have to say that I am supportive of JP and his accessibility. He is the "go to man" in this journey of exploration and I do not wish to engage in a personal attack on JP.

There are some issues that I have with SGQ broadly.

Here is my two bob's worth...

1. I suspect that there is a disconnect between the Board and JP/management and the contractor drillers. I say this because there have been numerous times that we expected more than one rig only to find that SGQ hasn't secured "multiple drilling rigs" as promised. Additionally, the reporting of drill programmes has not been as we had come to expect. There has been seemingly at times, an ad hoc drill approach that has relied on DHEM availability.
I see other companies with multiple drill rigs going for GOLD and SGQ does a hole here and a hole there and doesn't hit the conductor....That raises other questions about our contractor!!!

2. I am uncomfortable with a three member board composition with JP wearing two hats. In this regard, and with respect to JP, I would expect at least another qualified director to be on board. My view is that SGQ needs an on site high profile manager who coordinates and is involved in drill planning.

3. SGQ's reporting of drill results is not as good as it was. There are so many gaps in announcements that we as HC posters/Shareholders spend lots of time trying to fill the gaps. The past week is a good example. It took posters...OT, Julie and Leinad to convey information to our HC band of SGQ holders.
If the company had our interest in focus, many of the answers to our questions could have been answered in recent announcements. That would free up JP from having to field emails from the likes of us.

4. I have a serious concern that we have been put on notice that the impending JORC for Stricklands will not be delivered in this quarter. If this is the case, we need to ask serious questions about the terms of contract for Entech delivery of the resource estimate. I still have a problem with the excuse that the design flow is holding up the estimate. The estimate is an estimate... and should be released pre Christmas based on what is known. If JP can say the value is twice the value of the current NI price, he must have a very good idea of the preliminary advice and should release that information immediately.

There is more that I could say but these are my current concerns.....I know a lot of holders have been hanging on waiting for the JORC estimate and Entech has had the brief for near on six months and IMO should provide a preliminary advice to SGQ now. They have the Assays. release an economic model at the current ni price plus PGE value less contigencies..

SImple. Time for delivery

Cheers
Mulac1

Expand

mulac, you delivered a brilliant summation of the status quo, I agree with your views 100%. Your observations are exactly the reason why I have been writing in recent times that we are not aggressive enough particularly with the drilling operations. I hope that there are valid agendas unbeknown to us that have precipitated the delays and lack of smoother flow to our program forecasts.

Cheers,

Helmenesh.

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Last 2.6¢		Change 0.001(1.96%)		Mkt cap ! $25.70M

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