CEO and CHAIR must exit

The investment community has lost trust in both Chairman Mark Southey and CEO Darryl Cuzzubbo.

It's time for them to step down. The falsehoods in sponsored ads, misleading information to the media and ASX, questionable compensation practices, inaccurate facts, and careless behavior have all contributed to a perception of incompetence. This is reflected in the company's share price and the erosion of shareholder confidence.

Your communication has been poor, and your lack of progress over the past 18 months demonstrates poor planning. You promised shareholders 'momentum' to defeat the shorters, yet you helped them instead - with 120 million shares, after I pleaded with you not to do this.

You've quietly replaced outgoing staff with yourself and your associates. It's clear that everyone follows your lead, and shareholders have noted Orwellian responses to questions.

We are paying large costs to new staff circa 30% in excess of previous staff. Essentially, we are paying staff at ARU to sit at home, as you describe as HYBRID (working from home - on no task, as we were supposed to be in construction this year).

Refer to your media announcements. One media outlet claimed we have $40 million pre-construction on site at Nolans, and the next stated $100 million. You either fabricate or don't know? You have done this many times now, at times I have asked you to be honest, and you ignore our plea's.

To be fair, you understand very little of what you discuss.

Unfortunately, we have an engineer as a CEO - maybe only good for construction, as your communication is very poor, (questionable as you were recently fired two days after major shareholders questioned your leadership in Solgold - your last appointment) doing a CEO's job.

Any questions we ask are answered incompetently, and the people you have made responsible for answering questions do not understand the project. They have no idea what they’re doing or talking about.

You have failed budgets and timelines each year, and now expect us to trust you with $2.4 billion in construction. This is the definition of crazy!

Most importantly, you sneakily reward yourself with approximately 27.6 million shares (failing to answer questions about this topic - and brushing over with general answers playing shareholders for stupid, all while failing to attain any success or value for existing shareholders.

I am a major shareholder, along with many others that share my view, invested for the long term.

We need to remove any obstacles if this company is to be the success it can be.