Howdy all and Happy Fathers Day to all those who slug it out, each and every day, for the best of their family.
Couple of things before I begin my dribble (been a BIG, but great day).
1) I know (now) this is early (GM discussion, not the actual time).
2) Spent the last while reading through EM doc' and trying to understand where I am at with regards to GM Resolutions. Slightly blurrier now (not really).
3) Have noticed lots of 'new' posters on the BGS page which makes me feel slightly less intelligent, but better looking.
4) Am interested in hearing 'others' thoughts on which box they will be ticking come OCTOBER
(don't ask but already had next Friday booked in...)
5) Hold highly positive sentiment towards this stock, the RM's, The Board (since inception) and the majority of poster's; and
6) the following is my understanding of a brief read of what will hopefully, in the end, make me a bit of coin...
R1) New Constitution
A 'gimmie'. One of those putts less than 30cm out that a good mate gives you knowing you would miss if he made you putt it.
New Company, New Law... Tick
R2) Takeover Bids
Last time we were disappointed/angry/frustrated with the fact we had no choice about the possible acceptance of a dismal offer. My brain tells me this Resolution will...
Give shareholders the power to vote on any future bid to buy out any, or part of the company, Lithium or Gold. If that is what is says... Tick
R3) OLD Directors fees
Tells me we should forget about it. The cost of trying to recoup money (legal costs etc.) that has been gifted to the, can I say "corrupt", is not worth it. Is a LOT of money but... Hopefully ASIC will follow it up in the end.
New company, new focus, lets move on. If that is what it says... Tick
R4) Increase in CURRENT Directors' fees
Like me, you, and anyone else, they want a pay rise. Fair enough. If the figures compare to other similar companies then I see no issue with it.
Like the cover letter attached to this Notice (highly charismatic and confidence boosting), the following statements are very settling for my conscience (unless it involves a person who practices a certain form of Asian self defense)...
'In time, the Board would intend inviting additional people with the appropriate skill sets to become Directors'; and
'It is not intended to fully utilise the increased aggregate fees in the immediate future'.
The table below the above statements confused me (ridiculous) but if I got the gist of it, then I am sure we will hold them to it... Tick
R5/6/7) Directors' Options
Very, very, very, very, very smart move to make ann. of GM prior to this week open after close 4 months ago @22.5c, guessing an immediate spike in SP was on the cards. And yes, I get that they must ann. meeting at least a month in advance. However, if it was made Friday just gone, or tomorrow, or at current SP (mid 30's as predicted by many), 0.45c options wouldn't seem so reasonable... maybe. BUT, they have got to get it there. PFS, targets etc. etc.
Plus, big money to convert. And, it all goes into BGS.
Have chatted to a couple and they have reminded/advised me that they (Directors') would only realistically convert if price was to move above 0.50c or so, and maintain that for a period for any sort of real financial gain.
Fair enough. I know for me when having a punt, no point in backing the favorite at under $2.00, unless of course, it is Winks (60K @$1.07 some bloke, WOW - def. NOT me).
Anyway, if the above is so... Tick, Tick, Tick.
Running out of ink.
Again, am very keen for BGS to do well for all of me, I mean all of us.
GLTA and GO THE EAGLES!!!
