Ausheds wrote ‘’DFever, Crown was an unabashed shocker, it happened, it's over and highly unlikely to resurface given the bloody nose.’’
DF- Bloody nose hey! Well I come from three generations of small lease, hard working, hard living and hard drinking miners. Who were happy to live a long way from the brokers who handled their precious product. According to their tales, they searched long and hard for some pretty rare earth. Therefore there was no hesitation in shooting ( literally) at anyone lurking around their mines at the wrong time. So I reckon they would have tarred and feathered Nick if he had tried to sell off any of their leases on the cheap (like Crown) whilst reaping a $20 million bonus from the purchaser.
Ausheds “Now let’s move to the present and future.”
DF-OK but that’s my MAIN point. Nick has skills but the financing process is over for now. The Public Relations project is paramount now and becoming more desperate, along with finishing he LAMP building project, Stage 1 & then Stage 2. These are not skills he possesses and he has admitted that. So he has given us a good start but now he has to pass the baton on to the next runner or we might not survive the shorters attacks!
Ausheds “Firstly, can we assume you are an official or unofficial spokesperson for LSA?”
DF- No mate you’re wrong.
Ausheds “Secondly, please outline the specific actions where you feel NC is doing a "disservice to all stakeholders via his dual role". And I mean SPECIFIC FACTS not just these constant innuendos.”
DF- For starters how about the pathetic Public Relations performance. Whilst under his control it underperformed for years whereas it was crucial to overcome the diabolical history of the previous Rare Earths (Mitsubishi Corp) processor in Malaysia. Nevertheless he was given > $20 million in bonuses for over performance; and thats a fact jack! Poor CEO performance is usually reprimanded by the Chairman leading the board in hauling the CEO over the coals. Although it will never occur when the CEO is the Chairman. A dual Chairman/ CEO is like putting the prisoners in charge of the goal and wondering why they are enjoying themselves so much!
Ausheds “Thirdly, what is the upside to your disruption at this critical juncture? (aren't SMSL going to have a field day with a no confidence motion, let alone the Malaysian Oppn.)”
DF- This fearful reason is always run out by you to defend Nick whenever his dual role is questioned. Like the battered wife syndrome, i.e. accept the unacceptable just in case some obscurer peripheral consequence might occur. Why not get rid of Nick from both roles now, but retain him as a Non Executive Director. Then maybe the license will be issued! Maybe Nick’s presence is the hidden underlying reoccurring problem the Malaysians have with Lynas. I don’t know if its true, but something keeps them deferring our license? I put it to you that my hypothetical proposition is no sillier than your SMSL & Malaysian Oppn one!
Ausheds ‘’Who exactly are you proposing that has better credentials for either the Chair or CEO roles in this rapidly developing niche industry. Do you have someone to drive the business or are you thinking of resurrecting a geriatric caretaker so you can go to bed with warm milk and sleep comfortably, IYO?’’
DF- You suggest there is no better credentialed Chairman than Nick anywhere, well as I have commented in several earlier posts; we have one waiting in the wings to pick up the pieces and get a license pronto. Dr Ziggy is a Nuclear scientist with an astute commercial background as a Chairman. Maybe he understands and can better communicate to the other stakeholders including AELB, SMSL, Malaysian Oppn, MOSTI and the PSC the important relativities between RE’s, Thorium and radioactivity. Whereas Nicks recent ordinary media appearance lacked any pizzazz, when he discussed the aforementioned scientific relationships. Even you wrote about your cringing over that poor showing. It was only surpassed by his recent faux pas regarding his ignorance of how facebook & twitter were important oversights in his poor direction of the Lynas PR debacle. Chairman are never caught out like that (his media naivety story went viral in a negative way which Lynas does not need right now) well never twice!
DF- You suggest there is no better credential CEO than Nick anywhere, well as I have commented in several earlier posts; we have one waiting in the wings to pick up the pieces and get a license pronto. Eric Noyrez our current Chief Operating Officer is just one acceptable alternative. According to Nick, Eric has extensive senior management and board level experience in major multinational industrial and chemical companies and he also has detailed knowledge of the international rare earths industry. Of course these guys come immeadiately to mind for the obvious reasons although I would consider voting for any other suitable person.
Ausheds ‘This is a small dynamic industry with little formal structure, particularly ROW, and leaders, CEO or Chair, with experience don't grow on trees’.
DF- Yeah but I am tired of Nick messing up, underperforming but then getting $20 million in extra remuneration.
Ausheds “ We have a leader, warts & spots, that's had the vision, strength, contacts & smarts to get this to the brink of something great and all you want to do is whinge?”
DF- Well YES in our democratic society that is the first thing we all do, when we are disappointed. Although I am willing to do more, so I will support any reasonable resolution that changes the status quo at the next AGM. Why dont you consider my reasonable points and join us?
Ausheds “Best bit is TOL, first feed, cash flow and you'll all disappear like the morning mist.”
DF- No, not me, as I have stated in the past, I see a future for Nick only as a NED (non executive director), helping us in the financial arena. No TOL will change my opinion on that matter because it’s all about putting the right people in the right jobs (square pegs in square holes) to build the strongest most successful corporation Lynas can be!
In conclusion let me provide a simple rugby league analogy as follows;
Currently Nick, a bulldozing NSW front rower who has run the ball up well, wants to take the first pass and run it up again. However there is plenty of open room on the short side where we have the fastest winger in the world, unmarked. So if Nick gets the ball we might make another 10 metres but if someone can override his call we might just score under the posts, convert the try and then beat them QUEENSLANDERS for a change!
LYC Price at posting:
82.0¢ Sentiment: Hold Disclosure: Held
(20min delay)