Just a reminder that AGM is almost upon us, and we need to vote on 10 items.
I would encourage all to vote AGAINST item 4 which allows the company issue new shares up to 10% limit per year. As the management really pulled a fast one last time (we can argue about this all day, but it is true), when they did not need the $$, and as the balance sheet currently is overloaded with cash, it would be prudent to hold management to account over this.
In other words, if and when they will really need extra funding, they can come to shareholders and ask for that money then. Until that time, my answer is a loud NO.
This is how I voted; see pic below. The remuneration report should be more modest for a company that is just an explorer with no plans to produce. Also, I dislike directors granting free options to themselves all the time for no hard work involved. Get the SP to 20c, maybe we can talk about it then.
Don't feel obliged to copy me. However, once again, I encourage everyone to vote AGAINST resolution 4. Cheers.
AZY Price at posting:
2.2¢ Sentiment: None Disclosure: Held
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