Thanks Mick, i think that's a fair surmise of the AGM (i attended also)
Interestingly Phil Stavely didnt show - was ill apparently.
I note that when pressed for more information around the 'third party' Justyn categorically confirmed it was not ATLA.
Also, allegedly government representatives were on site earlier this week and are more than happy with the above ground and below ground infrastructure, operation procedures and so on.
Justyn seemed confident the final AN approval is imminent.
I have my suspicions about who the rogue shareholder is selling down, i didnt bother to ask as i knew they couldnt comment on it. Looks like he has been at it again today, beggars belief that someone would sell so much equity in a company about to hit uncharted territory.
One final comment, and without trying to identify myself here on HC, i openly voted no (show of hands style) against all resolutions with respect to increasing Aggregate fees payable to the non exec directors along with placement of options (even though my shareholding amounts to 4/5ths of FA). Once the formalities were out of the way, and post Q&A, Justyn spoke to me around those resolutions - and while he was happy that it is my right to vote how i please, he mentioned that the number of non exec directors has increased since the previous $500k cap was passed, i.e. the aggregate may have just been increased, but the average fee payable to each has actually come down, and the options were to aim to offset that. Conversation was all in good spirit.
My response was along the lines of, yes, understand that, however its not a good look when you are simultaneously running a SPP and dont give the same consideration to existing holders, particularly while the company doesn't have an income. Long hours i work for my employer dont entitle me to shares in that company, not sure why it should apply to these guys.If i want a pay-rise i cant just issue myself one.
I was impressed by how Justyn accepted my comments, and to that end, that conversation restored some of my trust in the exec team.
IMHO this will all be irrelevant well before end of 2018
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