Ann: Corporate Update and Progress Report, page-26

I note the 3rd director (and the only independent director) resigned on 21 June this year.

That is 4 (YES, FOUR) MONTHS AGO....

4 MONTHS without any independent oversight - and during which time a massive capital raising has been announced that will effectively privatise this company in my opinion.

And a capital raising of the size that stupefies me in terms of the amount and the lack of (absence?) clarity around the need for, and uses of, that money....

All this after, the MD, painted an extremely rosy picture back in Feb at an international mining conference - 

Clearly a priorty for the company is corporate governance....

ASIC should be all over these lightweights like a rash.....