Pathetic MLM didn't announce termination of the agreement.So do...

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28/12/18

15:08

Post #: 36974232
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Originally posted by MalcolmD: ↑

At exactly 11.13am on the 24th December 2018 (as Santa was loading his sleigh to wing his way to your house ).... MLM through it's lawyers hit the Shareholders Action Group (SAG) with yet another legal threat to stop the group. This was two hours after the announcement of the resignation of two Directors. This was seen as a desperate act by MLM to cling onto their untenable position of merging with Melior. Also it seems the departing Directors could not continue to support that untenable position and good on them for doing the right thing.

It was disappointing that this occurred on Christmas Eve when MLM had the opportunity in the previous week to issue such a legal threat. It seemed to re-enforce the incapacity of the remaining Director to rationally make decisions that have any consideration for the company and its shareholders. It all seems about himself and hanging onto the job and damn the consequences. This continues the litany of poor decision and judgement making that has occurred over the last two years.

The fear we now have is that the General Meeting that the SAG has called on 1/2/2019 is not for another month and in that time the current board has the capacity to make further bad decisions that lock MLM commercially into deals with 3rd parties that are not in the interest of the company and shareholders.

There is very little we can do about this, but one must hope that with one of the Directors also a senior partner in the lawyers for MLM, that sound counsel and advice will prevail to MLM that protects the interest of shareholders and the company rather than just protecting the interest of the Managing Director.

With shareholders now having received their Notice of General Meeting for 1st February 2019 to remove the current Directors (including the two new Directors appointed on Christmas Eve) This meeting is also offering three new experience mining Directors as an alternative team to get MLM back on track and back into low cost, low risk mining at Urquhart and Cape Flattery.

Complete your proxy now and post it back to ComputerShare. To support the new Directors you just need to sign and post back the pre-filled proxy form. Remember snail mail can take up to 6 days, so the sooner the better and also before you forget.
Cheers
MalcolmD

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Pathetic MLM didn't announce termination of the agreement.
So do MLM shareholders have to cough up for the break fee ??
150K or 300K in certain circumstances.

MLM Price at posting: 3.0¢ Sentiment: Hold Disclosure: Held
2 Upvote

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Pathetic MLM didn't announce termination of the agreement.So do...

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