I take the same view Cmon, with respect to the vote for consolidation. In principle its a positive step. All the rest of the proposals in my view are suggestive of possible issues with debt funding, and I would urge all SH to vote down any proposal that ran counter to advisories previously given by the company, pending full transparency about the need to relax CR provisions.
SH have repeatedly been told no CR is on the horizon, and that AKK is about to transition into debt funding. If there has been a material change to those circumstances, it is entirely unreasonable to expect SH to blindly support indications to the contrary.
The very need for the company to ask SH permission to relax CR provisions is a red flag in my view.
Its well known or at least understood that debt funding is going to be restricted to EFS allocation (at least thats my understanding), which leaves Pathfinder wanting.
We're told that the immediate program there is already covered so thats a "please explain"
SH will support this company if they feel they can rely on its integrity. AKK is putting this at risk big time, with this AGM.
Likewise the performance rights. Borderline vesting but lets wait and see. No doubt there has been real progress, and a solid foundation for growth, but to me, 10 days at 2c is not an indication of SH wealth creation. What it is (was), is yet another opportunity for the 2 hour horizon club, the very group they want to avoid. Its not rocket science is it?
AKK Price at posting:
1.3¢ Sentiment: Buy Disclosure: Held
