Eregulla Deeps, page-132

Yeah, I'm a bit torn on whether or not STX should shoulder some responsibility for the manipulated share price. Definitely Stu should be focusing on his day job - getting shite done, operations under control and execution of the growth strategy. We do not want distractions from that as that is the ultimate game maker.

But, what about the board? IMO they are responsible for protecting / delivering shareholder value, and that is being very much undermined by how their registry is being played. Should they not take some sort of responsibility for that?

Then they absolutely should be all over the governance aspects of what their service providers are doing. If Macquarie is screwing them, then they should both be aware and do something. Maybe they are reliant on their funding, for now (although options must be opening up) but maybe they use different corporate advisers, etc... especially if their current corporate advisers are the ones doing what they would presumably be advising them about.

I have thought the board very smart, experienced and therefore well equipped to deal with things like this, but the position we find ourselves in and the 'apparent' lack of response is making me scratch my head. Where's the fight on behalf of shareholders? Who's holding Macca accountable? Who's looking at funding options to cut them loose? Who's out on the hustings raising awareness of the value and bringing in buy side support/depth?

Maybe they can just execute and value will shine through at the end? Maybe I'm just getting frustrated? But does anyone else think they should be doing more?