Good work RB, p.147 of the Annual Report 2022, the devil will be in the detail as they say. Don't be surprised if your post gets pulled by HC because you've disclosed content from the AR (DYOR). I've had multiple posts pulled of content directly referenced from the AR2022 to help SH's better understand the importance of Corporate Governance and continous disclosure obligations under the Act (DYOR). An area I actually specialise in and have been involved in for the past 23 years, but prohibited from discussing & educating shareholders on because the co. pom poms are having the posts removed to control a narrative (DYOR).
Shareholders have a right to be upset, frustrated and angry. What is going on right now is a serious matter (DYOR). The 'missed' payment itself is not an issue prima facie, financials are strong, however, apply critical thinking to the situation. Why was the payment not made?, Why was it not disclosed to the market?, Why was the Mine Manager's services terminated as per MSM report (a key person with a long history with the company) (DYOR).
Shareholders must report these matters to ASIC & the company is now exposed and vulnerable to a class action by its shareholders (DYOR).
Having attended the AGM & then a review of the dec22 qtrly report, was enough to confirm my personal reasons to sell well before the release of the HY report (DYOR). BTW for those thinking I am salivating, "...like a rabid dog..." for a drop in price, I actually wouldn't even buy into the company until serious changes are announced, i buy on value not on price, "Price is what you pay, value is what you get" - WBuffett (DYOR). All my reasons are indirectly stated in my posts that were pulled, along with other posts on this platform that were pulled also by HC- they confirmed the red flags (DYOR), but i still closely follow the story because I am curious to see how this plays out, as it has all the markers and red flags for an educational case study for current & potential Directors which I am in the process of putting together (DYOR). Shareholders are paying circa $2.4m for a board of Directors (this includes circa $1m for the recent 249D action the Board aggressively fought against to keep its job representing shareholders). This is the result, no HY report to date and a voluntary suspension while waiting on a "please explain" to be answered by frustrated shareholders (DYOR).
X64 Price at posting:
57.0¢ Sentiment: Sell Disclosure: Not Held
(20min delay)