Today's update starts with this extract from my further email to Chairman Foley:
From Matthew Martin's actions yesterday, I suspect that Mark has further compounded his errors and led me to type a few more of your and board options for discussion ahead of, or if you insist, at the GM. They are:
1. Admit that there is relevant evidence that the company's ASX published announcements have included several, like the May 2012 Mineral Resources and Reserves report by Mr Towsey, and others as outlined in the appendix to my report to the GM, that were not JORC compliant;
2. Adjourn the GM until material errors in Mr Towsey's report have been corrected;
3. Request an ASX trading halt until a JORC compliant resources &/or reserves estimates can be announced;
4. Temporarily relieve Mr Lynch as CEO and Mr White as SSE. These could be tempory internal promotions or external contractors, pending outcomes of the resources &/or reserves estimation process. [The cost reduction of relieving Messrs Lynch and Mr White should largely cover the cost of their replacement.]
Also I am keen to hear, before the GM tomorrow am, from any shareholders who will be there. As I reminded Mr Foley, you can call me on 0414 274 420. Leave a message if diverted to voicemail.
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Price($) | Vol. | No. |
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