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SMH Article - Axiom Mining ups raising..., page-21

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charliek

1,325 Posts.

02/08/16

10:14

Post #: 18422974
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Originally posted by djm3001 ↑

If they need to do another raise it means that they can't manage their treasury operations. A basic function of management.

They either know they have enough for absolute sure with the $5 mill or they should have done a proper raise like their shareholders asked them to do in May.

So sick of the constant response from people of "if you don't like it then #$#@ off or sell"

We are the shareholders, we own the company. The board of directors are there to represent us. Our board is seriously hopeless... No idea of corporate governance and DO NOT represent the shareholders interests at all.

In late May it was made quite clear at the shareholder briefings in Brisbane and Sydney that stockholders were no longer supportive of the CR's being done in the manner they were. It was accepted that the fundraising of April was an emergency and while we weren't happy we would accept it. HOWEVER it was strongly put across that we expected that any future CR to be done with the existing shareholder base and this was acknowledged by RM and management. They were told enough was enough with the mates raises.

Eight weeks later and that has just been ignored and we have done the same style of CR again!!! Zero respect for their shareholders and unfortunately a sense of untouchability or insulation from the owners of the company.

So no we don't have to "$##* off". I bought back in yesterday so that I can have a say at the next meeting. And I will be agitating for others to join into a bigger pool of shareholders to actually get some representation and add someone to this lame duck Board we have.

I don't blame RM. he's in it for himself. That's fine. It is the independent Directors and especially the Chairman that is supposed to represent our interests and to temper management. Management if left unchecked will always do whats best for them, or easier for them or more expedient for them. The independent Directors are there to make sure managements decisions align with the interests of the shareholders. Our chairman isn't asleep at the wheel... HE'S NOT EVEN IN THE CAR. IMO.

Hopeless !! and that's who we should be looking to remove at the next shareholders meeting or at least make them feel like they will be held to account for decisions that they make or the lack of oversight they are doing. Or force someone on the board that won't rubber stamp everything.

I think a number of long term shareholders and larger shareholders are coming out of the blizzard of hope and while they can see the potential value of the company they are also concerned with the corporate governance issues that we have. Especially if we want to take the step up to the next level of being a producer with a MC north of $300 million.

So please stop telling fellow owners of the company to “ #$*# off” because we want some changes to the way OUR company is managed.

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djm

Just curious , do you hold as your disclosure says not held. If you don't then I guess your post is slightly redundant.

AVQ Price at posting: 29.0¢ Sentiment: None Disclosure: Held
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