Unfortunately the board/directors have total power as such they can do whatever they want, there are few restrictions.
If they have control of sufficient shares they can strip the company of assets, take a offer for the company from an outside source, etc.
SP has been steadily dropping for about the last 5 years, plant has gone up? but debts have also gone up.
So they are typical of small miners and the board can justify almost any move that it makes and sad though it is the board members will do what is in their own best interests.
Now to look on the positive side there are a number of shares that I own, and others I have owned where the replacement of the entire board would be the cause of much jubilation.
If you own "penny" stocks treat them as gambling, and do not spend any money that you are unable to do without.
