Gidday AJ,
Just a quick run down, he (Buchan) did nothing, the KAH board members are saying they want him out coz he cost the company money in wages. EXT want to keep him in place for future capital raisings in Canada.
They have no other particular reason in their letter. However, standing back and looking at it all, it is obvious it is because he is an independent director and ousting him would give Kah equal strength on the board as KAH.
Kah forget they sold that lease to EXT. They are now just shareholders. They want it back I guess. (my opinion)
Searching deeper it is quite obvious that Mark H and Peter Meagher are in strife with other failing companies. Peter Meagher having sold 500,000 shares on market already and one of those days was when market sensitive news was announced, he promptly sold it down and destroy confidence for a while,
As Directors are supposed to work in the best interests of their shareholders, it is feared that should KAH get control of the board, they will next oust Peter Mac. With Peter gone and hence more power to KAH, it is feared that KAH will sell out too cheap for us long term holders.
Peter McIntyre would like to mine this ore body and achieve a massive share price for his holders, Mark Hohnen and Peter Meagher need to support some of their failing companies.
I hope that helps, anyone with more reason please speak up.
Hope you all had a great Christmas. I did
Harlee
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Price($) | Vol. | No. |
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