What next for Holders

Guys we have all lost big time here. There's absolutely no point fuelling arguments of what, why and how everything went so wrong. That's been talked to death and the result is sadly we have done our money. Our only option left IMO is legal action.

What I struggle with is the fact that this board has not listened to holders at any point. IMO their management and decision process ultimately put us in this position and have to take full accountability for the demise of EGO. Our inexperienced ex CEO imo made some bad decisions and sadly our board followed and supported the reckless cash burn and now we are where we are.

Well our independent chair who has again been voted in at ERM and that whole debt debarcle with ERM getting their money and now MIN will be rewarded as well. This has to be seriously looked at by our lawyers imo. As for CFO how wrong she got it imo. Now look where our finance wisdom took us, broke and company collapses. OMG so many company decisions which all went so terribly wrong. I will watch over the coming months to the jobs they all end up in. I still maintain none of them should be allowed to be directors for 5 yrs after managing a company to liquidation. System and rules have to be urgently be changed. These people managing our investment have to feel the pain as we do imo.

Same as the ridiculous rules regarding creditors, as holders imo are creditors in some form and should have voted at creditors meetings and be rewarded the same as creditors. As if we went to auction and the administrators weren't so rushed and actually forced MIN to auction I am very confident we would have got a lot more money realised to EGO and we could have saved the north etc. Anyway it's sadly over and the whole process along with our management totally stinks imo.

Shame Angus didn't replace our CEO 3 yrs ago, along with a few others then we would have survived imo and re focused on the north and who knows we might have realised all our dreams and been the talk of the north. In time we will all read all about the success of our tenements. Bitter pill to swallow isn't it. Our board just move on like nothing happened even though 2 directors are hurting along with us. No winners at all here but only MIN.

IMO the creditors vote appears stacked and against us holders to me and the administrators only had a small budget and limited time so the quick deed from MIN was voted to suit them and creditors many of which imo will again be hired by MIN to get RG working and the exciting north drilled we all will never be a part of that. I am very confident many of those creditors will be apart of the new look MIN deal in time and this stinks imo. That is why this whole aggressive process was so unfair for holders, I have serious questions on many points of this process etc.

Legal intervention should have happened and our directors should have fought hard ask yourself why it appears they all walked away without a sqeak, some of them lost big time as well, just doesn't make sense to me! Where was the fight for holders during this process, we have to all fight now. I have huge support even from some close to our situation. As one all working together imo is our only solution going forward now.

Look we can go on forever passing blame but will get us nowhere now. Yes holders can take some blame as well as they had opportunities to vote and many didn't. Some holders who have supported our board at every opportunity well that support has blown up big time now hasn't it. Simply we all have lost. I always believed if Kent was in our company we would never have collapsed shame some holders didn't believe as I did. He is a truly hard working and smart operator, he would have urgently positioned and made the right choices so we would have survived and in time profited not ended up in everyone losing big time here.

So what can we do? I think we only have one option and that is the legal path either a class action by all holders or a more direct path of top holders who have lost more and can afford to put money in and potentially sue the directors DOI in an attempt to get something back, certainly better than doing nothing. We need to find a truly independent process for holders to recoup something.

I believe many mistakes have been made and plenty of ex employees are not happy as well. We have to come up with a plan and follow that through via lawyers and get discovery. Then and only then will the truth be known and if wrong doing found then action and recourse has to be taken imo. Holders do have rights and we have to band together.

Seriously guys arguing now between ourselves serves absolutely no point. Anyway it's all up to you all as I know what I wish to do as this board do not run us into administration then leave and go off working in their other jobs like nothing has happened. I want those held to account and due legal process followed. It's up to you all now. GLTA.