Nothing has essentially changed.Our Kind Sirs are still...

Nothing has essentially changed.
Our Kind Sirs are still presiding over us as before.
1) healthy personal remuneration remains intact.
2) cash burn remains the same and despite the latest cash flow report,in the absence of any further replenishment the countdown to insolvency could begin some time this year.
3) SP in a downfraught.
4) once again MYG options are moribund.
5)the threat of litigation still hangs in the air, with the revelation that $1,100 for this purpose was paid out of company funds. If this indulgence goes no further or if just the tip of the iceberg has yet to be revealed. The EGO backfire could prove to be a useful lever if applicable.
At this point a lecture to our Kind Sirs about mining culture could be in order. It is a rough and ready passionate high risk enterprise. You are up today and down tomorrow. You call a spade a spade. You will have your critics who don't mince their words with no malice intended....just passion boiling over.Like real men and and women you accept the cut and thrust and take it on the chin and answer with solid achievements in the field. It harks back to the timeless military unspoken rule: "what happens in the field stays in the field. " Hiding behind the skirts of lawyers when dissent rears its head appears to be at odds with the essential nature of frontier mining culture.
6) Go back 18 months. We were all positive about deflector and the majority of the posts were keen and enthusiastic about the company's prospects. No longer. The turning point came at the 2012 AGM when our Kind Sirs saw fit to supersize their remuneration which subsequent developments have shown this to be folly. To underline this point since then , what is the proportions of posts which have continued to focus on the positives?Very few. The tone has become "them and us"with a focus on the negatives. Whilst our hope for finance remains strong, failure, despondency and disapproval of our Kind Sirs seems to be the dominant theme running through the majority of posts.

By the way of comparison. XST--MD salary 200K of which 100K is made up of performance shares. Since last Nov. SP up 76%. In the current climate .... realistic reflected by a successful SP outcome.

It is pointless to expect the same type of sacrifice from our Kind Sirs as there has be no evident inclination to do so. That is the cross which we have to bear if the status quo is to be maintained. That could change. Diminishing coffers could bring on a backlash.

I write this despondent post not with relish, but with dismay. 2 years ago we were on a roll, then remuneration shot up at about the same rate that the POG went the other way. Our investment came under threat which our Kind Sirs apart from scrambling to find a stop gap iron resource, did nothing to address either in terms of of a personal sacrifice to preserve scarce cash or in turn retain a resulting measure of confidence. That is the tragedy which we all feel.