ADN 0.00% 1.7¢ andromeda metals limited

No offence taken!However I don't think I can be called a...

  1. 2,962 Posts.
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    No offence taken!

    However I don't think I can be called a 'random' person. I've been in this Company for about seven years!

    I dug up the evidence about the Carbon Capture Pilot Plant and presented it at the 2022 AGM but was shut down by the Chair who said "I'm confident that the Company is abiding by its Continual Disclosure obligations." Well we all know how that turned out don't we. The Company would have known at the AGM that the pilot plant did not meet Australian Standards. It took until April of 2023 when Bob came on board that he finally disclosed it. We still have no idea how much we lost on that project.

    I was refused access to the Remuneration Report submitted by BDO Remuneration and Reward. However all of my pushing did lead to a much more detailed remuneration information in the Annual Report!

    So that is why I would nominate for a position on the Board. There needs to be greater transparency, integrity and honesty from the Board.

    In Bob's words, the MST broker report is 'their words' and not the Company's! That is ridiculous in my opinion! How can you allow misinformation to be released to the market? Andromeda provided MST with certain information that allowed them to print their findings so Andromeda cannot then wash their hands of anything that is inaccurate or misleading! Two examples:

    1. Funding to be finalised by the end of June. That means only seven business days! Bob has indicated that he will provide an update prior to the end of the financial year so funding unlikely before then. (I hope I am incorrect though!!)
    2. $25 million in equity funding at a share price of 0.05 cents. That's a 177% premium to the current share price. (also printed in previous reports by MST). Who in their right mind would sign up for that price? We were told when we had our last raise at 15 cents that no more raising's would be required and that was sufficient to get us into production.

    So what do comments like those do for the credibility of the Company? I'd say it diminishes trust and the ability to deliver key milestones.

    So current management have used up over $40 million. What has been achieved for that $40 million??

    Anyway, we sit and wait!!












 
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