Are we being taken for a ride?.......... Minemakers have a couple of issues in common with ASX listed KEY PETROLEUM (ASX code KEY), namely directors O'Shannassay and Wilkins. It is also interesting that outside of their directorships in KEY and MAK they own a legal firm and an accounting firm respectively. On checking i find that they also are the providers to KEY and MAK for our legals and accounting requirements. Dennis Wilkins who owns DW Corporate billed MAK $184,016 and KEY $132,026 for book keeping and accounting fees in the last financial year, plus he was paid a salary of $167,219 by MAK. Richard O'Shannassy was paid $74,101 by MAK for legal fees and $69,050 by KEY for their legal fees. Now they state in the annual report that their charges are based on commercially accepted terms. How do we the shareholders know if that is the case? Do the companies go outside their mates and check just what they could get these services for "on commercially acceptable terms?" Oh and by the way, another of our directors John Ribbons is also a full time employee of DW Corporate, Dennis Wilkins company that provides the accounting services??? Now we all know by now that VERTE GROUP has been engaged in an endeavour to raise capital from Asian investors, yet when i read the CV on Mr Wilkins they state.."Mr Wilkins has extensive experience in CAPITAL RAISING specifically for the resources industry" maybe he was instumental in gaining the services of VERTE GROUP?, but hang on, that can't be right, MAK were introduced to VERTE by the NT Government!!! Now we can get the same old preso slides over and over again but what about the Project schedule that detailed when production was to commence, that suddenly has disappeared from the preso's and the company catagorically refuses to now give us shareholders any idea when that "MINOR" detail will be forthcoming whilst they also refuse to state how long we are supposed to await some positive results from VERTE. When they issued the announcement re VERTE Andrew Drummond also indicated futher detail re VERTE would be issued in due course??? We have been given scant detail re the NZ samples which is getting close to 12 months since being supplied. As a long term shareholder i have had enough of being treated like a mug punter, i want to know when production is now planned for??????????
AEV Price at posting:
31.5¢ Sentiment: Sell Disclosure: Held
