The Sale of Riley for $3ml, just shows how the “New BOD” are beginning to rape and pillage our assets. This sale is an insult and slap in our faces (Shareholders).
Shareholders have spent over $15 million on this Project in less than 8 yrs. To say we cannot make it work is insulting considering this new “BOD”is supposed to have all the right personal and are supposedly the cream of the crop.
How, could any shareholders make a statement that it's worth nothing to us.
We made $575k profit after all Capex was done, so after the first shipment our profit increases.
Not only did we get conned out of $15ml. We handed over hundreds of thousands of dollars in performance rights to our previous “BOD” that our “CFO” signed off on.
As recently as a fortnight or so, a request by shareholders was made to our “CFO” for a full list of costings and profits on “Riley”, prior to selling, something all shareholders deserved to have.
Our “CFO” after initially agreeing to the request, then advised those shareholders unfortunately I am going on holidays and cannot work on this request until I return.
Also, the same for the share buy back notice of motion that was sent to the company over 2 weeks ago. Same reply.
If this “New BOD” gets away with this, the same will happen to every tenement they decide to “Off Load”.
Yet, this same “New BOD” are happy to keep two deals on the table that gives shareholders nothing in return, that is “Thor” & “Iron Duke”.
I'm willing to bet that we will not get any Metwork or Jorc from “Jupiter”until after our all “Tassie Assets” are dumped.
And won’t be surprised if they fall in the hands of the previous “BOD. Considering, A.R always mentioned he wanted to split the company between the “Tassie” & “W.A” Tenements / Operations. And Mt.Lindsey was always his baby.
Also remember this you ignorant Shareholders, our biggest holder is here only for Lindsey.
Along with over 12.5% of our Registry from Tasmania.Do you honestly think they would remain as shareholders.
I can assure you all any share price momentum will be short lived once the “Tassie Tenements” are dumped.
Also, as apersonal opinion I believe, that the Mets are below or just mediocre at best from “Jupiter”.Knowing are wonderful “BOD”, if the Mets stood up or were any good, our “BOD” would be trumpeting their voices that high that they wouldn’t even be able to hear themselves. Just like they are doing for the grades and size at “Brothers”.
Please do your own research and DD. This is not meant as financial advice. Just observation and opinion.
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