Ann: Successful A$9.5m Placement and A$3m SPP Announced, page-11

For years now loyal SHs have been treated very poorly by management.

We’ve suffered from the very “close” relationship between the Board and OCP with AML Board Chairman, Paul Harris even accepting a consultancy with OCP and definitely from poor/lazy decision making (like walking away from the ‘Deal of the Century’ thereby gifting the Century plant to (now) NCZ only to see them valued at FIVE times AML).

Along the way we’ve been misled, lied to and then generally ignored so when Fred Hess finally stepped out of the shadows to take over there was an expectation that just maybe things would get better?

Fred told us recently that OCP had committed to fully fund the company at least to the PFS stage next year and that was the vital next step in resurrecting the project.

However, instead we’ve just been blindsided, misled and lied to again with this sudden (24 hour) raise being done at the unbelievably and unjustifiably low price of 5.8c.

This means that existing loyal long-term SHs have overnight been diluted by over 30% by a Board who have again demonstrated that they have no regard for ordinary SHs whatsoever.

No wonder the raise was oversubscribed at such a stupid price (which must have made it very easy (too easy) for Bell Potter to earn their fee).

In our experience this Board has no understanding of what their responsibilities/fiduciary duties to SHs even means let alone to act accordingly.

If you want to discuss privately: [email protected]