IMHO.
We only need 2 new honest totally independent directors( not linked to the con. notes and therefore this current lot) as Rogers should step down from the Board after last years fiasco. He also should be removed as CEO after his woeful year in both mining and finances
The share price will never recover while he is on the Board as he is not trusted by investors inside or outside the company.
ASIC may not charge them with anything but they will be monitoring everything they do. It would be hard to present a gold mining producer with a future but then state that you are going to crash the share price with a ridiculous rights issue and at the same time issue con. notes at a discounted price of ONE TENTH of what they were previously and at a massive discount to the share price. It would be unheard of.
Because they are in suspension there are more rules around capital raisings and this is where their plan has come unstuck so they probably have decided to mine gold and pay down debt and then get out of suspension and then the can continue with their plans.
We must get a new Board as a leopard never changes its spots and they made their intentions clear last year. They are not concerned with their shareholders only with making themselves richer.
Please anyone who has not done so to to the facebook page and pledge your votes. Also those who were once supporters of the Board and are now not happy please also pledge your votes as it is not too late. I don't use facebook and would rather we had other options but just join for this and then leave.
I have a feeling that they will announce a new director who will be linked to the new con. notes therefore not really independent and so don't be fooled by this.
Be highly suspicious of a positive quarterly if one is produced and remember with the current Board you will never be able to trust them and when they go for months without updates you will be constantly worrying about what they are up to as will the market.
