I have been following closely the uproar regarding director's perceived excessive benefits which they are bestowing upon themselves.I am not weighing into that one but my concern is that the board is facing a serious backlash and with it a threat to the GOODWILL which it holds with its shareholders, and the market in general.I am in business,many of you are in business and we all know that nothing is more paramount than the goodwill which you command,and the esteem in which you are held.
Right now the atmosphere is a bit poisonous and it needs to be put right before the rot spreads to the share price.I call upon the board to explain themselves with credible explanations-not just platitudes like-"this is just being comparable blah,blah,etc." Furthermore I urge the board to do it now and not leave it until the AGM. Leave it that long and you will up against hardened attitudes which will translate into resistance no matter what justification (you) the board puts up at the meeting.
MYG has had a loyal bunch of long standing shareholders who believe in the project and still do.Nobody after all this time wants to see the company reduced to a hack for the benefit of directors-there are so many companies like that-MYG has always presented itself as being better than that.
The board must now come out and re-affirm this.Hold onto your esteem and credibility. Let your goodwill slide and it will be at your peril and everybody else's.Perceptions are everything.
MYG Price at posting:
11.3¢ Sentiment: Buy Disclosure: Held
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