Totally agree, but in essence they will never finish a project regardless of all the ramping by a T20 holder and a non holder alike. They listed in 2008 and have absolutely nothing to show for their efforts, to take from the "Wolf Of Wall Street" - 24/7, 365 days a year, schmucks (shareholders) on a ferris wheel.............
McLean has already shown his colours and I quote from the email he sent out.
"I am keen to answer any questions or concerns that you may have."
To which I sent him some random questions before we get into the real nitty gritty, but as tuts suggested, the perfect replacement for the existing members of the board, no response......... MEH
1: How did you obtain my personal information re: email address?
2: You infer that the Cobalt projects boast some of the highest grades in Australia, but that is solely based on selective rock chip samples, which are highly concentrated and do not under any circumstance indicate what is beneath, only drilling will decide that. You really only need to read the GPP announcements when they released the “rock chip” sample results at Morabisi to understand why there is total scepticism in these results. If you have a look at the total amount of results that were published, it is only the 1 (sample 1811) that has any promise. Also bear in mind the fanfare and hype of the Morabisi samples and what the net result was of the drilling campaign.
Can you explain why Asburton was passed over by Newcrest and Peak Resources?
Julie Creek has had no work done on it and your promotion of it is solely on nearology!
3: With the change of strategy to go straight to a “Commercial Plant” rather than build our own PDU, do you envisage any problems getting enough bio-stimulant oil to progress the broad acre field trials of tomatoes and wheat, considering in previous GPP announcements the reasoning of building our own PDU was because it was not cost effective to transport coal to America, have Thermaquatica produce the oil and then send it back. Furthermore, there were production and technical issues of the PDU, as well as it was not exclusive to GPP’s use, so why has there been a change?
4: If the “proposed acquisition” is ratified by the shareholders, and King does indeed move to a non Executive director role, what added value will he be able to contribute as there will be 4 board members now, (without knowing what the “new” key appointment roles is, just a KMP or on the board as well?) Point that I am making is that we will have 4 board members (Yourself, King, Peters, Williams on board, Suttling and “new” person will make 6 staff) taking a salary, to what benefit will that be to the shareholders?
5: With yourself and Williams predominantly being in financials and as you have suggested you will have networks, to what point do you envisage that we will need more technical people (boots on ground types) employed?
6: With the dwindling “bank account” how do you see us paying for drilling campaigns considering drilling is more costly in Australia versus (for example) Guyana?
7: Timelines have already been pushed out to what was indicated in the “acquisition announcement” re: August (Lincoln Springs) detailed mapping and EM Survey and October - commence drilling but now it is before Christmas!!!
8: With the engagement of a highly regarded Lithium expert to review the Turesi drilling results, and the highly credentialed geologists that made up GSM, the previous continued engagement of Watts it appears now that they weren’t as good as the announcements made them out to be?
We are flogging a dead horse with more money being wasted on chasing the dream at Turesi!
9: You have failed to mention Kopang, and the Annual Financials also never mentioned Kopang as one of the core principle activities of GPP, has this been abandoned?
10: GPP have not been able to release a Commercial Plan for the OHD project, even though the company has been suggesting that it was almost completed 18 months ago. How do you think that without this or any broad acre fields trials, as well as the failed trial (mix up of bio-stimulant strength factors) we will be able to encourage financial partners?
11: Has there been any progress on the SOP projects?
12: As a proposed new managing director, what will you do to improve adhering to Corporate Governance by way of shareholder communications and keeping us informed.
Before anyone makes comment about McLean not being able to answer questions of that ilk until his election, it is now common knowledge that King has already stepped aside and McLean is the acting CEO, to which none of these moves needed shareholder approval, (according to King) but I totally disagree King was voted into a position by the shareholders McLean wasn't !!!!
And to the resident rampers, what time line would you suggest it would be before there is anything near a JORC (considering the GPP guru has on many occasions suggested the market won't respond until there is a defined JORC), also bear in mind that drilling was to have been started this month after a detailed mapping and EM survey in August..... but this has been pushed out already to "before christmas" weather permitting
(nothing changes)
What amazes me personally is that the "proposed" directors will be voted in without a whimper from posters, will pay ION minerals cash and a lot of shares but one of the directors OWNS Minerals Intelligence to which owns ION minerals, not a bad pay day.
As for mining experience ? ? ? They have worked for mining companies and if you bother to take a look at their resumes they were employed in financial roles, not boots on the ground roles, not get your hands dirty roles, but furthermore they are great salesmen .... or is it back to the Wolf Of Wall Street quote ... 24/7, 365 days a year, schmucks on a ferris wheel.... this time through default it is the shareholders of GPP.
I also find it rather amusing that no one really cares that the second placement was predominately done to Xcel Capital, re: Bulesco and Tomsic, and after the shareholders that took up their placement @ $0.013c seen all these (buddy) buddy shares go to mates at a discount rate of $0.005c - yep, you keep wishing
@TheSower (I mean I would be pretty annoyed if I doubled my holding only to see cheap shares offered 10 weeks later)
They have already increased the numbers in BOD/KMP roles, and what is a few more 100's of million shares issued going to do?
cheers
(20min delay)