Good post Gozberg. I am overseas and will not see the letter,...

Good post Gozberg. I am overseas and will not see the letter, but your summary makes it clear what it is about, and your sentiments echo mine completely. John Greeves, commanding such an astronomical salary is just not delivering the goods in the opinion of many shareholders to justify it. It has caught up with him and the writing appears to be on the wall. The perceived threat of using lawyer boots to stifle dissent has clearly not been effective and could well have backfired. I would not have written the last 2 posts if the resolution had been clear to begin with. It obviously means removing JG as a MANAGING DIRECTOR and not as an ordinary DIRECTOR. This now makes sense. He is standing aside and letting shareholders decide his fate.

It does make you wonder why the board just let this confusion ride after repeated calls for clarification. All this speculation about this or that agenda could have been avoided, allowing more pertinent discussion to take place. But we are only the shareholders who should do as they are told and speak only when spoken to. The reality is we are not the princes. Way of the world. Simple as that.

Assuming a post JG era comes to pass, it does not automatically mean that all will be better. True there is a drilling program planned for Deflector. Well and good. But what about the remuneration issue which is a major one for this company? In today's market the going rate for a MD is about a 200k. package. Can a new effective one be found for that figure , especially in the light that our secretary is pocketing about the same amount. Most of the other directors are also rewarding themselves on the generous side.

To strike realistic all up admin costs will take a commitment to put the interests of the company first and thereby all personnel take a haircut. It could happen, but I'll believe it when I see it. If nothing on this front changes then we'll all still be stuck in the same old morass.