It is in tne interests of GWR shareholders to vote in the following manner:
1. Against the Doutch purchase. This is a misuse of company funds at this time of the economic cycle and the tnements are worthless to anyone but GWR, who should NOT have paid $800,000 for an option that ONLY PMM would have bought as a stopper for future mining, that would not be in Portman's interest whether a shareholder, controller of GWR or not.
2. Vote against the increase in shares in the company:
25 million shares and 25 million options will cost the company less AFTER it increases its inferred or established resource.
3. Vote for an increase in directors so that we can both have the expertise of perhaps Mehan and also Mick Wilson. AND ideally a director VOTED for by INDEPENDENT shareholders and to ensure that NEITHER FAS nor PMM can control the board- it is clear that either scenario is not in independent shareholder interest.
4.Do not vote for a change in the constitution until that constitution has been publicly tabled and understood- otherwise kiss your money goodbye.
The company has sufficient funds to drill and upgrade and further prove its resource to an extent that would increase the share price and thus diminish the dilution in value to rank and file shareholders.
The payment and price suggested to be paid to John Doutch is to repay the funds lost by he and his supporters in taking up the desperate offer FAS suggested. The decision to buy the tenements at this price and in this economic climate at this time in the company's cycle is ridiculous.
Shareholders however have Hobson's choice at present- vote for PMM and lose share value as PMM's suggestion to ship ore via a rail link to Esperance is clearly not the best solution in the long term, though it may be a revenue opportunity in the short term- Or vote for the status quo and have an unrealistic payment to Doutch, a capital raising which may see the monies paid to other FAS sycophants for the lease of the pub at Willuna or some other hare brained scheme.
OR clearly select those options that allow none of these situations and allow independent shareholders to have an effect upon company policies should they not be in the interests of minority shareholders.
GWR Price at posting:
0.0¢ Sentiment: Hold Disclosure: Held
