Hi Lockie,I'm not really sure what else one would do that would...

Hi Lockie,

I'm not really sure what else one would do that would be helpful to advancing our company?

There have been many shareholders upset about the placement, but in particular the lack of explanation - myself included.

Some positive actions that I can think of are:

- Contact the company directly to complain question

- Have a major shareholder lobby the company and seek removal of the chairman

- Launch a section 249d resolutions to remove the chairman

- Vote resolutions for placement down when put to shareholders at AGM

- Attend AGM and publicly question directors

As far as I can see all that ammo is now spent.  The 249d failed - and this was with a well run campaign by a prominent shareholder.  The resolutions for the placement were supported by the shareholders and this was with the Vimson shares being ineligible to vote.

The directors have had the strongest possible shot across the bow with the narrowly defeated 249d - this is no minor action.  The directors have a first strike for the purposes of Division 9 of Part 2G.2 of the Corporations Act.  They are officially on notice, and have publicly coincided that they will seek to appoint an independent chairman.

As for me I don't see any value on grumbling about this issue.  It's been dealt with and is over.  I'd be completely wasting my time spending any further energy on this issue, in fact if we continue a negative mantra regarding past issues on HC then we are likely to do ourselves a disservice.  Don't underestimate the power of social media for good or bad, it is fast becoming norm to check up on a company via these channels before making an investment (no matter how large or small the shareholder.  This can however be used a a channel to advance our cause of increasing our collective MC of TNG. 

In the absence of any better ideas (and i'm all ears), What I plan to do is focus on the future and hold the directors to account for what they have promised to deliver such as:

- Deliver Refinery EIS by first quarter 2019, but with any luck before the end of the year 

- Secure a good finance package - if a concessionary loan from an export credit facility and NAIF funding then even better! - the project has an IRR of 44% based on metals prices 18 months ago! What other projects can offer this return!!

- Recruit a project team and get the Mt. Peake project moving

- Appoint a new INDEPENDENT chairman

- Better resource our corporate team so that it is not left up to the MD to field IR questions and improve investor relations in general - particularly with our major shareholders.

Our company has a project with an NPV of more than $4.7 BILLION dollars - our market cap is $0.1 Billion dollars, our SP could increase five fold and still be only about 10% NPV.

Who's with me?