You're right Arbroath - it is cutting off ones nose to spite...

You're right Arbroath - it is cutting off ones nose to spite oneself - except in this case I think that the majority of shareholders have just gotten swindled. I was at the meeting - there were about 180M shares for the resolution and about 280M against - that makes 460M shares voted out of an issued 995M - so only 46% of shareholders voted. It was interesting to note that the MD of Southern Cross Goldfields was there and cast a vote on the show of hands - meaning he or Southern Cross has shares (or he was voting as a proxy). I think that our company has just been hijacked, and over half of the shareholders didn't even bother to vote - anyway thats democracy for you!
I really don't see any way out of this now - there will have to be a capital raising, and guaranteed the 'new directors' will stack up with free options, and if the amigos go mining, it will only be to line their own pockets and the shareholders will go down the tube. I for one am out now - if I wanted shares in Southern Cross, I'd buy them. Time to put my money elsewhere as this goose is cooked.