PRX 20.0% 0.2¢ prodigy gold nl

I thought we should create a thread to talk about what's going...

  1. 6,892 Posts.
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    I thought we should create a thread to talk about what's going to happen at the May 9th meeting (unless it's canceled or moved)
    I have a few points I wanted to discuss.

    These will be statements and questions.
    1.
    I want the meeting recorded, preferably video but, audio at the least. I'd also like a transcript made that includes the shareholders questions and ABM's answers.

    In light of EVERYTHING. The share price collapsing, the largest shareholders fighting, serious operational failures at O/P, The Government's own Takeover Panel ruling against the largest shareholders "request" to have a RI.

    I think the biggest concern is the shareholders in the company have no idea what's what's going on and trust is lacking from all shareholders, except PRC. We're told that all parties CAN'T comment due to the T/O panel but, ABM own BL himself has appealed it's decision, dragging things out longer. Then at the same time, hire ...at all shareholders cost...A 3rd proxy company to "explain" to shareholders what happening? What's happening indeed.

    This is why I shareholders need to know what goes on in that meeting and it should be recorded.
    If this isn't allowed I think it needs to be reported to the ASX. All shareholders should record the meeting on their phones. ABM can't stop this. If they actually try...well you can guess they are planning so doggyness for the day.

    2.
    I want the meeting and the Q&A to go as long as needed. If it takes 6+ hrs than so be it.

    I'd be concerned if the current BOD or management rushed through anything. Why would they? They are paid well. Everyone else put's in 8hrs and sometimes is asked to stay back late. They can have the next day off...if they are still employed by ABM.

    3.
    In addition I'd hope shareholders be allowed to make a few statements if they felt it was needed. This could be added to a question if desired. The BOD and management DON'T own any shares. The shareholders have lost 90+% of their money in 12 months. The people running ABM have made lots of money in salary. S/H should be allowed to vent a bit.

    4.
    Funding of ABM...I think we all agree this is the most important since ABM BOD decided to stop mining O/P because, we were somehow losing money from it. PRC then quickly offered a funding package. The Take Over panel said plainly that there was no serious attempt to find any other funding.

    So...my question is for BL...from Dec-Mar who and how many companies did you contact or try to contact for a funding? Was it 10-20? More than 30+ . Can you provide names of these firms so we can confirm. Don't worry, there's not privacy or conflict areas for you to worry about. I've checked. Have any frims TRIED to contact you? If names can't be provided than the question answers itself.

    As per the T/O panels findings...The ABM board did not try and find a funding deal. Then took a 4 cent RI from PRC.

    5.
    This question is for BL. Again, we can ALL agree that O/P was a mess. It went from being one of the lowest cost mines in Australia to getting shut down after a year. Of most concerning from me was the mention that security MAY have been a issue. O/P is also the main...sorry...the only reason why the ABM shareholders saw their shares go from 26 cents in Oct of 2015 to 2.9 cents in Jan 2016. A 89% loss in 3 months!

    So with that said, I'd assume you'd be open to FREE advice from experienced industry veterans on O/P if it was offered?

    So my question to you is...Were you offered FREE evaluations of the mining operations at O/P in the last 6-12 months? Basically were you offered FREE help with the O/P mess? If you were offered and you turned down FREE advice from experienced industry veterans...can you tell us why? I think this is information is something ALL shareholder need to know and honestly MUST know. As you set out a internal review of P/O Operations, YOU and ABM management didn't know what was going on. (I also must add that you can't pass the buck here and blame the former MD as ABM STILL employees him as a consultant.)

    BTW...I can confirm that you were offered this advice by a ABM shareholder and OTHER 3rd parties that offered this FREE advice as they had friends who were ABM shareholders and just saw their investment wipe out and wanted to help mates out with their expertise.

    Many detailed questions could be asked as to what happened at O/P but, knocking back free advice from mining managers who know what there doing, after ABM has said THEY don't know what's happening...says a lot...So not answering this question would tell shareholders a lot.

    6.
    In April of this year. ABM hired Global Proxy Solicitation to call shareholders with questions as to how they are going to vote at the May 9th ABM meeting. Sorry, to help answer any questions shareholders might have about the May 9th meeting. You have told a shareholders that because of the T/O panels process and the appeal you put forward that ABM or you BL can't tell us the whole story. So with that said...

    -Who authorized the hiring of GPS. You or the BOD?
    -Why did you do this? (what information could you give to shareholders that wasn't already listed in the ASX announcements?)
    -Are per ABM privacy policy listed on your website it clearly states you can't and won't give the shareholder database to a 3rd party. After calling and speaking to the ABM company secretary. I was told that you could as...and I'll quote here..." You can think of GPS calling you as ABM calling you."

    GPS isn't a ABM employee. They are a 3rd party contractor. This is just a fact.

    7.
    This question is a simple one and it's for BL. Do you have any professional or personal relationships with PRC employees outside of your duties of being the ABM MD and board member?

    8.
    This question is a simple one and it's for RP. Do you have any professional or personal relationships with PRC employees outside of your duties of being the ABM Chairmen and board member?

    9.
    This question is for SC. Can you confirm in Australia if one organization has 50.1% of a ASX listed company, would they then legally control that company?

    10.
    This question is for SC. If ABM all ready had a debt facility in place with the ANZ. Why did PRC need to replace it with theirs? Then add that it was a condition of the RI being underwritten? A outsider might look at it as PRC getting special treatment. We know that's not the case but, a outsider still might think that.

    11.
    The loan that's underwritten by ANZ is backed by company assets if it defaults. A few questions.
    -What are those assets- in detail please?
    -Who decided what those assets are?
    -Did the assets change when PRC offered to underwrite the loan from ANZ?

    12.
    Where are we with the IGO JV?
    What does ABM need to do to trigger the funding options or is it completely up to IGO? Could they decided NOT to proceed any further, based on drilling results?


 
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