I agree Kalenn, X64action should respond to the legitimate questions by many shareholders on this forum regarding the Ranger Equipments drilling contract where the two terminated directors Mr Welker and Mr Williams had interests.
Vitrinite is now back with a 249D a few months after their 249F to replace a board member got rejected by shareholders's vote.
This time , they have initiated a 249D where the costs of the meeting will be paid by Ten Sixty Four and therefore paid by all shareholders.
Two of the most prominent proxy advisors have both published non-aligned reports recommending to vote against all resolutions from Vitrinite a few months ago.
It is very informative to read the unbiased findings of Glass Lewis and Institutional Shareholders Service regarding the Range Equipments drilling contract where the two terminated directors Mr Welker and Mr Williams had interests.
The initial response of the board of Ten Sixty Four said the following :
"By the Employee, the Board also learned that:
o Mr Williams had insisted that Ranger Equipment perform the surface drilling;
o Mr Williams had instructed the Employee to drill beyond what the Employee believed was appropriate; and
o the Employee had resigned from their position with X64 Qld in order to protect their professional reputation."
The full initial response of the board can be found in the link below :
http://x64.gold/investors/protect-your-investment
Also it was recently reported in a press article by The Austalian that : " Mr Welker now appears to be backing the former management of the company's mine."
X64action, could you please explain if Mr Welker is backing the former management of the company's mine ?
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- Glass Lewis also recommends VOTING AGAINST all resolutions
Glass Lewis also recommends VOTING AGAINST all resolutions, page-8
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