The campaign yesterday received an email from a high-level source with some interesting facts about the way the Company is being run.
Shareholders will be aware that we were promised at the AGM that Albidon would be recruiting Aussie directors to the Board & also a Managing Director - no doubt you are wondering where these people are & why we have not heard anything further.
Our source advised he had personally talked to the potential candidates with many years of Australian mining and/or finance background, but that after learning of the Albidon share structure (I guess a reference to the extreme Jinchuan influence on the Company) including the potential for full dilution by the Convertible Notes (+ a Capital Raising) they almost all concluded that this would be a very tough role. The source reported to our Chairman that without major improvements in Albidon's current status the Company would not be attractive to the high quality professionals it seeks to recruit.
He also advised that Jinchuan can not remain silent & must support Albidon by letting it take independent action. He told us that the Company must develop a proper strategy.
This is in addition to similar advice from a Perth-based broker commissioned by the Company to give a talk prior to the AGM, & to the very advice given to our CEO & Board by our CFO & Company Secretary. The Notes must go as a first step, after that we have to address corporate governance issues & Albidon independence. Jinchuan have plenty to gain too from a healthy Albidon share price!
It is not just a few shareholders on here that think there are major issues need to be addressed. Please join the campaign for albidon action & apply pressure.
albidon dot action at hotmail dot com
ALB Price at posting:
9.8¢ Sentiment: Buy Disclosure: Held
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