MYL 0.00% 70.0¢ mallee resources limited

Appointment of Director and Standstill Extension, page-16

  1. 274 Posts.
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    I don't believe the company has (grossly) mismanaged the finances (sure things could have been done better, for instance the re-listing effort has turned out to be money not well spent, some of that is on the company some of it is not though) On the whole the money being spent has been needed to get the operation to a point where it is viable in the long term. On that the shareholders have all agreed with management, filter press press, geo analysis, crusher upgrades etc are all needed.

    where the majority of shareholders also agree and are against management, is that the financing options provided by hartree have been predatory and are not in the interest of the shareholders. this is not financial miss-management it is a majority shareholder, taking advantage of a company and its shareholders that have been delt some bad hands (funds from myanmar not being repatriated, re-listing being denied because of the outstanding funds from myanmar and economic headwinds ruling out pretty much all other funding options) and trying to milk every cent for themselves instead of sharing the love with the mum and dad investors.
 
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