Thanks to whoever posted the recordings of the AGM.
With all the experience (371 years), and qualifications that our so called Board of Directors and Key Managers have,
from a broad range of fields from Mining, Corporate
Financing & Legal, Accounting, Management & Financial and
Administration. It beats me how they can't even get
Accounting 101 right? Managing Company funds?
They even have it in their Corporate Governance in the Conti Website - under responsibilities of the Board. It's such a shame because some have great qualifications & experience. That's why they were brought in the first place, & to help improve Corporate Governance. Goes to show experience does not always translate to success. I shall hope for shareholders sake they start, looking at the corporate structure & only employing personnel that are critical to the business. Big in roads in cost savings can be made there.
In the recording I could not hear any mention of the 60M options expiring Feb 2013, so it means to say the $30M of potential conversion money is as good as toast, this would have solved all of Conti's working capital problem.
Vanmag in the 2 weeks? Can the person who was taken to view these documents clarify this? Looks like the next 6 weeks will indeed be interesting.
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