Hi Prisoner, Thanks for taking the time to explain your...

Hi Prisoner,

Thanks for taking the time to explain your rationale … and yep I guess -to my reading of your earlier post - I did get the feeling of ‘there are enemies amongst us’.

From my side; I had a rotten time with Gascoyne for several years and now it is a source of abiding gratitude and joy - and most people around here know this .’

- Most people around here know, also, that I don’t do numbers, understand geology terms, or consider myself to be a particularly clever investor.​

But what @Peppie wrote as gospel in response to your points on there being a great number of ‘enemies’ rang true for me based on @Undaunted pointing at proxy votes tings true for me because I’ve seem those faceless arbiters in ‘generalised’ action over several years at another company whose AGMs I attend

And in respect of @Undaunted …. What makes you think he has inside knowledge of Spartan?

Anyway kudos to you undaunted, and FWIW (not that I expect you care a whit) my view is that you’re very smart and savvy in the ways of ‘board games’, ASX games and markets, and thus tuned into the potential movements of big players .​

And that you’re very clever and enjoy playing devil’s advocate on HC sometimes.​

I notice, also your sentiment is buy, and so this ‘blood bath’ that you wrote might be on the way at next AGM is something that you might think is currently of small consequence?​

- AND I don’t believe you have inside knowledge of Spartan!

(Do, please, correct me if I’m wrong!)​

Beyond that, in the interests of trying to decide whether I need to get off my complacent/contented ‘mattress’ and step out of ‘the don’t you worry about that now’ bias upon which I’ve been resting;

To your points;

1) Prisoner, when did Simon mention the less than happy cohort of shareholders please?

2) I remember words about the plant not being optimal, but thought rather than it being ‘dire’ in any way, it was jyst built that way on purpose with a subsequent upgrade akways a future possibility?

3) “The inclusion into the company’s constitution (I guess), some months back, that the Director’s will consult and seek the express approval of shareholders prior to any takeover. Is there a group of shareholders worried about a hostile takeover, or Simon and the team supporting a takeover at a significant discount to the company’s true value.‘’
Ouch to me

… when I had read that bit a while back I’d just blithely figured it was to protect Ramelius (et al) as a sensible clause :/​

4) I know about the consequences of second strikes and even ‘met’ a poster once who wrote that he went frequently into companies with a view to rolling the board.
And NRW, which I have followed closely for several years has had AGM strikes for most of those years.
- But the one time (or two?) that it came to the vote the meeting just put the directors back in again.

A board that was rolled that I read of (now Tivan) had a bunch of noisy very unsatisfied shareholders and a charismatic leader who wanted to be boss …. And the ruckus was well flagged.​

5) Simon as ‘untouchable’? That ratification and the CFO what undaunted wrote was not ‘cricket’ as far companies being supposed to have a board comprised of a majority of independent non executive directors.
And it’s NOT cricket. But there is only four on this little board now?
Maybe someone else is in the wings?

But I can see how anyone who didn’t trust Simon to do the right thing would be riled.​

6) and 7) …. My view is the evidence is not convincing on either of those points for me although I have not seen who endorsed the popular post and my views on the excellent undaunted remain skeptical until he comes out and says something along the lines of that he might have a friend whose uncle’s next door neighbour was sitting next to Simon in the gin house …. Or whatever.


Thanks for getting me focused on Spartan again Prisoner, I had ‘wandered off’ a bit

A potential conspiracy sounds kind of interesting.

cheers