There's probably still a bit of time definitely plans revealed before AGM or facing an uphill battle with longer term shareholders, otherwise seems like another year wasted, looks unlikely they'll move on their North American plans until after Xstate has had their meeting to vote through the sale of red earth. That's in regards to any Alvares / tenements Xstate is a part of plus the cash coming through from Phillipines divestment. You can't run off in new directions without cash sorted out first.
Seems to be some desire from Kane to stop the two seperate asx companies working together and even worse the private blue sky resources bail outs for Phillipines and red earth, if Xstate and SGC keep doing that then they should've just merged not keep propping each other up on projects. That way you pay for one board not two and they are atm all on similar projects!
Have a feeling they are planning an overhaul of the board and business goals / operating model or fear maybe forced on them if they don't go through a renewal process pre-AGM. Which is smart there needs to be a renewal and if you can't train up someone to replace you you're doing it wrong! Should always be looking at succession planning.
I reckon they should let Gary have his swan song as technical director if he wants it for Alvares and not stand for re-election in 2025 AGM but make it clear
that is the path in May. See it through, if it comes in it's a company maker and proves up his hypothesis or overlooked gas in the 1980's in the heart of California and he'll be wealthier in retirement than he ever was on the board! If Alvares comes in everyone will be in the black no matter when you bought into SGC so some forgiveness for errors chasing shiny things along the way that came up with more work (Phillipines) or less gas (borba) than anticipated and a road to redemption.
I had a South African Colonel I used to report to at Rio we forced the maintenance planning teams to start planning properly they weren't happy about it, he used to say plan thoroughly and then execute violently. This one well at a time campaigning doesn't allow them to risk manage the fall out if they come up with a duster as there is nothing on the horizon.
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