AVQ 0.00% 2.5¢ axiom mining limited

Ann: San Jorge Drilling Program-AVQ.AX, page-96

  1. 899 Posts.
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    hahaha.... yes I don't think there will be a rush to call that particular meeting.

    I accept other posters commenets about ringing the company for info and I'm sure they wax lyrical when asked questions they can give a nothing answer to.

    If you ring or write to the company and ask specific questions that are difficult to answer like:

    1. why did the company issue 5 million shares at 18 cents instead of 3 million shares at 30 cents to satisfy the Convertible notes as per the shareholder approval?

    2. why is there a large liability on the Axiom KB balance sheet ($17 million). What is its nature ? who is it owed to? is it offset in a consolidation with Axiom Mining Limited? is it secured?

    3. when is the EGM scheduled so that Directors can have their share purchase at 28Cents approved ?


    These are met with Stony silence. It does not inspire any confidence in the competence or transparency of the current management or more importantly the Board.

    If I was staying onboard I would be strongly agitating for either a new independent chairman or at the very least another independent director to help curb some of the current mangement excesses and increase disclosure generally by the company. But that's a matter for others now.
 
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