The Advocate 11/10/19:Metals X 'weaponises' Renison in board row...

The Advocate 11/10/19:

Metals X 'weaponises' Renison in board row with APAC Resources

"....APAC is seeking shareholder support to have its executive director, Brett Smith, added to the Metals X board at the October 24 annual meeting.Among other things, it has been critical of what it calls destruction of shareholder value through Metals X's handling of Nifty..."

"..Responding to a letter to shareholders from APAC, Metals X said the board had acknowledged underperformance at Nifty, board and executive changes were made in late 2018 and a Nifty reset plan had been released.It said one director subject to the 249D notice had resigned, chairman Peter Newton would resign at the meeting and a "board refresh" process had started."The company's ongoing and growing success with its Renison tin operations joint venture provides demonstrated evidence of the ability of the board and management team to turn a previously unprofitable and run-down mine into a world class, high margin and long life asset," it said.."

"..APAC said Mr Smith's appointment should not be controversial..."

"...It said Metals X had distorted events in ASX releases relating to the meeting agenda item dealing with Mr Smith's potential appointment and the board refresh..."

"In order to restore and preserve shareholder value, new eyes are urgently required to assess whether MLX's current targets for Nifty are realistic and whether MLX shareholders should continue to fund the operation," it said."All options must be considered, including whether the mine should be put on care and maintenance..."

Seems it all turned out true and Nifty was placed on C & A so what the hell was all the drama about back in September/October other than the board protecting what sure as hell doesn't appear to have been shareholder's hard earned..