Emu board supporters advise that it is pleasing to see that on the 13th June 2025, the two remaining Emu directors took a very positive step and appointed a new truly independent director, who has a wealth of banking and finance experience as well as being active in "hard rock" mining activities.
They tell me he has been a managing director of a mining and exploration company overseeing multi-million dollar earn-in agreements.
It is important to note that this new director was not the subject of any complaint by existing Emu shareholders and that the pre-May 2025 directors have not been found guilty of any breaches of any law.
The Emu board supporters are ropable that those associated with the complainants to the authorities, appear to have now banded together in what can only be described as "predatory behaviour". They have moved to call a shareholder's meeting to remove all directors including the new director without providing any reason for his removal.
One can only view this action as an attempt to take over Emu at the board level without paying a premium to shareholders.
I am told that the Emu directors have been working tirelessly in recent weeks, to deal with multiple unfounded allegations of illicit conduct levelled at them by some of the complainants and other associated parties, which have been so defamatory that Concerns Notices under the Defamation Act WA have been served by your Emu directors on quite a few of them.
This just demonstrates that some people will stoop to any level to take-over a listed public company without having to pay a premium to shareholders.
One might ask as to what are they after? I think it is obvious - the Yataga copper Earn-In project which I am advised has just vested with Emu ready for exploration with its JV partner.
No doubt the current board with the new director have the experience and know-how to take this project to new heights.
Add to My Watchlist
What is My Watchlist?
