One thing we should all agree is that none of us knows what will be the outcome on 3rd of September unless additional extension is requested.
Regardless of it, I am going stick to my opinion that MC and BOD are fully responsible for the SP and Tribeca action which IMO was the only reason for this "strategic review".
As a shareholders, we are the part owners of A40 and MC & BOD are nothing more than employees of PUBLIC OWNED COMPANY not their own private enterprise.
For above reasons we should demand straight answers regarding long offtake negotiations and how long they knew that we are going downhill and could not find an answer how to protect us from gossips of possible administration.
Many of us have different backgrounds. Business management, finance, mining etc but IMO many statements and repeated words were directed like to school kids who don't have any experience and just going accept whatever GODS of MINING are saying.
We went from $0.20 to $0.07 in very short time and IMO this was not declining lithium market but obvious problems to those who they need/must to answer while many of retail were writing "please explain "emails or left with many unanswered calls.
With a good plan and some much needed news (like second offtake) should not take us long to go back to mid $0.10 (still disgraceful price) or higher.
We still have 2 weeks to argue what went wrong and/or what will happened but I would like us all ( holders only) to force MC and BOD to arrange EGM in Australia so many of us can attend and ask questions -for as long as we satisfied with answer and find out what really was/is behind our current situation.
This is the only way to pass them message that many investors are not mushrooms.
IMO, we will get out from this sad situation but each of us should receive true explanation what went wrong, as in very simple terms, they were acting like a family man who lost a job but kept spending all savings because he believes that tomorrow he will get a job and only get serious when his bank (called Tribeca) called with warnings of house repossession.
No less - no more, this how I see our BOD behaviour and as an investor I do demand answers to be satisfied that $600K a year and all past and latest bonuses were justified or due to market situation there was no other way but change the name and get another secretary to help all well paid independent advisors.
One thing they got right in their statement: Alita - to reflect new image of the company.
Please go back to TAW whatever the costs are.
A40 Price at posting:
8.2¢ Sentiment: None Disclosure: Held
