you'd think that IF trinity had thought the licences were...

you'd think that IF trinity had thought the licences were totally worthless, they would not have committed to the extra 15%, blah blah blah...weather or not they have done this yet is another story
the share register doesn't really have any one stand out owner except maybe capricorn mining with is owned by mastermyne (ASX.MYE).
perhaps a group of shareholders said to ME its best somebody steers the ship and he cracked the shits and resigned OR he got offered a job somewhere else that he couldn't refuse OR he decided this is a dead duck in the current market OR its just a dead duck. maybe the other geologist was put on the board to handle to geo work and the corporate stuff is handled by this new guy.
personally i was really looking forward to the south gobi exploration, especially the tenements adjacent to GUF, and had put some money in over the last few weeks at around 12 cents as it was pretty much a free bet given it is virtually trading at NTA but its a debacle now IMO b/c they won't be drilling for months. I thought it was strange that they hadn't started drilling the south gobi yet b/c the drilling at teeg was done so quickly. I had spoken to mark a number of times on the phone. he always returned my calls and spoke to me at length about the geology so I had put my faith in him and never blamed him for the share price which is not uncommon to the sector ATM. disappointing but thats life at the penny dreadful end of the market.