Thank you HotCopper for enabling clarification of perspective....

Thank you HotCopper for enabling clarification of perspective. Please see an enhanced post below.

I note the Company is still yet to actually hear from LindyLou or Avco. Harmony is encouraged but these posters aren't able to contact the Company directly?


LindyLou and Avco,
Your posts demonstrate an inherent affinity with the Company's previous managing director. I remind all shareholders with an interest in the future of the Company to contact us should you have any concerns - [email protected] or 08 9245 6187. This evidently needs reiterating considering the lack of direct communication we've had from you to date.

"For the last 9 months nothing has happened." Well, this has already been addressed in a previous thread, but we can revisit it here for everyone's benefit:
Lindylou, we invite you to review the ASX releases and the quarterly newsletters provided by the Company this year to give yourself the best chance of providing an accurate posting: http://www.mecresources.com.au/newsroom/newsletter/.

- note the new board appointments to both MEC Resources and its investee Advent Energy. This was promised by the MEC Chairman in announcements made shortly after the management change of late 2016. This demonstrates a commitment to independence, good governance, and technical achievement.
- The Company has raised funds thanks to the support of many of its shareholders this year.
- An Environment Plan has been lodged with NOPSEMA to progress the work commitment of a 200 line km 2D survey in PEP11.
- You are welcome to elaborate as to how you perceive the company being "run into the ground". As always, shareholders are welcome to call the Company on 08 9245 6187 and/or email us on [email protected].

The legal cases to which you refer costs incurred are, in the opinion of the Company,  a direct result of the former managing director's breaching of contracts he entered into with the Company. Is it ever acceptable to (a) breach a contract, or (b) let the Company and its shareholders suffer from the breach of contract endured?

Other legal cases to which the Company is NOT expending, but the directors independently are include defamation cases against the former MD and associates. Is it ever acceptable to publicly propagate falsehoods of another, especially knowing that they are false, malicious and with intent to cause harm? The cases will be heard by the courts for formal judgement.

You have demonstrated only a partial ability to read financial accounts: The existing directors are still being paid only a $1 fee. Do you think this is reasonable to those directors considering the inherent risks? Ms Ambrosini's consulting fees (not salary) are also publicly available. Your challenge is to demonstrate a comparable company and less remuneration to Directors.

Have you ever questioned the motives of someone who disseminates selected private emails of another director? Again, we welcome conversing directly with you to understand any concerns and how you could contribute to the success of the Company.

Having reported LindyLou's other posts of inaccurate and seemingly defamatory publications on other HotCopper platforms, it is relevant to state that blackmail demonstrates that character better than any counterclaims. I trust that you actually read the legal response to the original poorly researched (and evidently hand-fed) piece of pseudo-journalism. Confirmation of a retraction of this article has been received and we look forward to the imminent printing of an apology by this publication.

"I'm completely over this debacle and the loss of my investment." At what point did you invest and why? Did you note the share price immediately prior to the termination of the previous MD's contract? A check of your maths may provide yet another sanity check on your statements.

Again, you will note from recent announcements that the Company did attempt to sit down with the previous MD and his associates for the purposes of achieving a 'global settlement'. To bore other readers with the details, but obviously not yourself, a repeat of the thrust of the discussion is provided here:
On or about 14 November 2014, MEC Resources Ltd (ACN 113 900 020) (Company) entered into a written loan agreement with BPH Energy Ltd (ASX:BPH) pursuant to which the Company advanced monies to BPH (Agreement).
BPH has defaulted under the Agreement and monies are presently owed to the Company by BPH. The Company calculates that as at 31 August 2017, the sum of approximately $353,133.36 is owed.
The Company has made various attempts to resolve the matter of the outstanding monies owed to it by BPH to no avail. These attempts have included:
• informal and formal discussions between the parties and their representatives;
• a formal Notice of Default being issued pursuant to the Agreement; and
• a statutory demand being issued by the Company to BPH on 3 July 2017 (Statutory Demand) which was subsequently withdrawn to enable further settlement discussions to occur;
Despite the above, BPH has not at any time presented the Company with an offer capable of acceptance to satisfy the Company’s claim for monies owed pursuant to the Agreement.

As is apparent from LindyLou's and Avco's conduct, public denouncing of the Company and its officeholders appears to be their ultimate 'vendetta', such that the Company's ability to attract new and suitable investment partners is severely hampered. This conduct does not contribute to the Company's success but only encourage its failure and return to previous Control. For zero gain.

We encourage all shareholders to contact the company on [email protected] or 08 9245 6187.