Ann: Weolyu High Grade Au-Ag Confirmed, page-8

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30/01/19

22:05

Post #: 37271697
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Originally posted by 1ForDaMoney ↑

You can measure what directors say in the previous years as to what they produce following to rank them on the scale.
This board wasted millions on hedging and the glandore farm in. Greg and Simón are two of the highest paid as a ratio renumeration to market cap on the ASX. The corporate and admin costs are at nosebleed levels and nobody knows what it is being spent on. Raised at multi year lows after what was said below to a company that when I googled it the Panama papers came up. A lot of transactions and staff are linked to Paragon private equity..
There are two SAU,s the one before Cannon cash, fiscally responsible and proactive and the SAU after Cannon cash..... the opposite of pre.

On a bright note SK looks the goods and there is high grade nickel that runs from Euston all the way through George’s reward 200m west of Cannon N/S at around 2% in decent widths. Also nickel North east of Cannon pit we also picked up. Interestingly there is significant amounts of Chalcopyrite in the mix too. I would imagine the Nickel and Copper potential could be cheaply assessed further once underground mining starts at Cannon and could be interesting. The Gold jorc will be also be interesting with the Cannon/George’s reward combination as there is a large discrepancy between what the remnant jorc at cannon was post pit and its initial ug jorc.
Many positives but board underperformance for over 2 years now IMO. Time for Simón and Greg to step up, anyone can JV assets and give them away cheap to keep wages coming in but shareholders deserve better.
Gold in a bull market and these directors can’t even market it effectively. Disappointing.
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Welcome back @1ForDaMoney good to hear from you.
We need you to contact Greg and Simon and ask some hfor ard hitting questions. I am still waiting on an email reply from some 4+ weeks ago, to some fairly basic questions. I think management feel very comfortable, just look at the recent voting turnout at the 2018 agm. Huge salaries, for some fairly routine company direction decisions

SAU Price at posting: 16.0¢ Sentiment: Buy Disclosure: Held
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Ann: Weolyu High Grade Au-Ag Confirmed, page-8

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