Hi @kellectric thanks for posting.
I would like to comment on some of your points/statements in the quotes below.
"Two key points are largely agreed upon by most involved: a reduction in operating expenses and transparency of management's financial support. Our CFO Shontel Norgate suggested new holding costs entailing up to 50% reduction of management's salaries. To my knowledge, these have yet to be finalised. We now have a slimmed down staff of four: our MD Joe Walsh, Shontel and Timo and Simon in Namibia."
A 50% reduction in management salaries? I would strongly suggest everyone here force the BOD to take a 75% reduction on all salaries. EVERY. SINGLE. ONE of them. Management & the BOD have squandered time & money here for close to a decade. Now they're coming back & almost begging for shareholder support?
"It will be helpful if holders here indicate interest in perhaps participating in a shareholder loan, of course pending further and concrete information. Friday, 24 January is a mere 4 days away. Our digital world makes communication efficient however or perhaps the deadline could be slightly extended?"
If SH here agree to a loan, which is another term for CR, then what's going to change? What's the plan moving forward? Give the BOD more money for what exactly? The DFC didn't want to fund this project. So that tells me the current business model doesn't work. That means something has to change!! The BOD has to implement something other than "we're taking a pay cut". Which in all honestly, should have been done years ago!!
I would suggest SH here demand JW go. He hasn't delivered in 10 years. Why should he stay?
Demand change!
Demand action!
The fact they've sent a "representative" here to HC to negotiate terms for relisting is evidence SH has management & the BOD by the "you know what".
Use that to your advantage!!
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Hi @kellectric thanks for posting.I would like to comment on...
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