Great post thanks @nashezz.Completely agree with everything you...

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KachiunLt

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19/03/25

21:36

Post #: 78336184
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Originally posted by nashezz: ↑

Kachiun have you read the panels reasoning for their decision?

If you haven't you really should. You will find a damning lot of commentary. You will find the panel had plenty of reasons to declare 'unacceptable circumstances' in spite of understanding a companies right to raise capital.

We are blaming the board because they are to blame. The reason we are not valued fairly is because the board has severely undermined trust highlighted by the panel decision and they have communicated poorly with shareholders (and the panel).

It is confusing to try and understand where exactly OUR plant is operating at, it is not clear what the state, nature and obligations of our debt are, it is not clear why we never receive any money from our supposedly successful drilling/services JV, it is not clear to most shareholders why we need to raise cash when we showed a $6M profit last quarter. These are big black holes in shareholder knowledge. It should concern you that our board was going to spend $3.6M on a new TFP that they have quietly just dropped with no explanation, whilst also confirming that the 'interim' TFPs will take us to full capacity, despite saying previously it would only get us to 80%. When did they learn this? Why were they still trying to raise $3.6M for the final TFP if they knew this? It should concern you that a company whose focus should be running a successful and profitable mining operation (that we seemingly don't receive any money from) has a focus on large expensive drilling campaigns despite around 10 years mine life left on current resource (like to grow with current drilling). I agree with Pablo around maintaining leases and the need to but I am also across what these needs are and we don't need to be doing drilling campaigns of the size that management said we had to, nor is likely to include in it's next raise.

There are an awful lot of bad decisions, an awful lot of poor and missing communication, an awful lot of decision making that seems to primarily benefit Al Tasnim, our major shareholder. The board is to blame for all of this shite make no mistake and make no mistake, serious money will avoid this like the plague whilst ever a board that operates like this is in place. And I worry about our ability to change this given our shareholders rubber stamped the recent re-election of one of these stooges and the rem report.

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Great post thanks @nashezz.

Completely agree with everything you have said above. I would love to have a board spill but insiders hold a large amount of this company and I am not very optimistic we will see any results. I feel like we have to look no further than the last presentation which was done by the Al Tasnim board member instead of our CEO or chairman to know whos running things.

AUQ Price at posting: 3.7¢ Sentiment: Buy Disclosure: Held
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