WTM (ASX) BAT, Hell and Back. Bat out of hell

Originally posted by Ozapp: ↑

It's time for the Battery Minerals Board to face reality, their time is up, they have to go. I have spoken with both Jeremy Sinclair and David Flanagan on the phone over the last month or so. They phoned me, I didn't call them. These calls from Sinclair and Flanagan were made to me after I made attempts to get the Battery Minerals Shareholders Share Register, which I now have. So I say to all the BAT Shareholders who have repeatedly tried to contact the BAT Board or management to no effect just make a request for the BAT Shareholders Register and you may have them phoning you as they did me.

By my estimates about $2.5 million per year can be saved from the Perth end of Battery Minerals alone.

How can this be achieved ?

1. Sack every one of the Battery Minerals Board and Management as they are now. Replace them with a Managing Director on 100 to 120k per year and two Non Executive Directors on 40 to 50k per year. These would all be part-time positions. All three Directors would be free to do work for other companies until the Graphite market turns and there is demand enough for Graphite so Battery Minerals can easily get finance, which will enable BAT to build the infrastructure and buy the assets required to begin mining and processing Graphite ore and produce Graphite concentrate for sale.

2. Outsource all things Administration and close down the Perth Office. Why pay rent for space for people who have little or nothing to do? I have been told that the Battery Minerals Administration costs are about $170,000 per month. 170,000 dollars per month for Administration.

Sinclair and Flanagan are trying to gain finance, how long will it take for this to be achieved? I don't know. Will it be next month? Will it be in six months? Will it be in two years? I don't know. Nobody does.
I have been told that I am being cynical or am a cynic. I believe that I am being Pragmatic. I really hope BAT gets finance before june next year which is about when the $5million in the bank will run out. You all know the old saying " Hope for the best but plan for the worst ". Thats being Pragmatic.

If you think 0.008 per share is low wait until February March next year when traders start pricing in a share raising. Think of how diluted your holdings will be then.

I don't know what the costs are in Mozambique but these too must be minimized without endangering Battery Minerals Assets in Mozambique and keeping both the Mozambique Government and the local communities around the mine sites onside and in good favor. We cannot jeopardise the mines or ore bodies for without them Battery Minerals has nothing.
The Battery Minerals Graphite ore bodies in Mozambique are of the highest quality, they are world class assets and when the Battery Market comes of age investors will see this. Until then we must cut spending to the bone and wait things out.

I have been told that Jeremy Sinclair and David Flanagan have at least 45% of the shareholders shares on their side. Remember the sophisticated investors that got a discount in the previous share raising?

Maybe they have got it wrong because whether you are a sophisticated investor or just an ordinary investor, watching your share value go down the plug hole hurts.

I think that maybe just possibly us Battery Minerals Shareholders are being taken for granted. Sophisticated and unsophisticated alike.

Its time for a reality check and change.

Expand

A s249 spill notice would have a good chance of success. Those “loyal” sophisticated investors tend to be fickle, especially if there is a threat of a prolonged and public brawl between a large dissident group and the incumbents. It would be impossible to raise any funds or project finance while the battle plays out and the right thing for the board to do would be to step down.

Just beware of poison pills. Have any of the board or management positioned themselves around the asset?and consider the termination payments (a maximum of one year full pay multiplied by the number of execs).

The best time to lodge the notice is the last trading day before Christmas.

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Last 30.0¢		Change -0.010(3.23%)		Mkt cap ! $60.54M

Open	High	Low	Value	Volume
32.5¢	32.5¢	30.0¢	$39.89K	129.1K

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