Ignorance, arrogance or incompetence?, page-2

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Zane11

8 Posts.

15/09/22

20:49

Post #: 63726181
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Originally posted by Karanga: ↑

This is an email I sent to Stu this evening. I'm angry about the way shareholders are being treated.

I am getting sick and tired of one f#ck up after another by Lake Resources management, and consequent erosion of shareholder confidence and value.

I can understand the possible need to give Lilac a rocket over their slow performance in delivering a working demo plant. I suspect they may have got distracted by negotiating with Bolivia.

Approximately 2 years ago, you phoned me to explain lengthy delays in progress were due to negotiating the complex contract with Lilac, which ran to over 160 pages. How then is it possible to now have a dispute over interpretation of dates and deadlines?

More importantly, why did this *need* to be aired in public? The consequence (perhaps only short term, but who knows) is another rapid fall in share value as a direct result in loss of investor confidence.
Add to that the failure of the Lake website for over 24 hours, with no temporary redirect or explanation. That website has been a woefully outdated shop-window of the company for far too long.
Add to that the incorrect issue of either 1 or 1.5 million shares.
Add to that the ASX announcement of the new CEO having "DRAFT " watermark still across it. And unsigned so the author is unknown.
Add to that the debacle over Steve's sudden departure. Add to that the shoddy communications regarding Steve's departure.

All this appears to show a company in disarray, and with little leadership being shown.

Billions of dollars of shareholders value has been wiped. Most of this can be attributed to the actions (or lack thereof) of the Board of Directors. You are chairman of this board, and have been acting executive officer. Which makes you directly responsible. On your not insignificant salary.
Please stop spending your time retweeting banal positives about the lithium industry in general, and instead focus on the performance of your own company, and the information vacuum surrounding it.

If I have got this all completely wrong, I would be very happy to be put straight. I want this company to succeed!

Congratulations on the appointment of David Dickson.

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keen to read what he has to say and thank you

LKE Price at posting: 92.5¢ Sentiment: Buy Disclosure: Held
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