Ann: Appointment of Receivers and Managers, page-9

Well kh looks like we have a few takers.

The administrators as I understand it have a free hand and can allocate (and charge for) as many people as they can on these projects.

We could call an extraordinary meeting but that may take time and all players would be charging for every minute spent.

Care and Maintenance could be handled by one person on site. I know someone who did this for years on a much bigger mine that this one.

But the costs of Perth Office have continued while there was money to suck out of the accounts.

They could have (and it has been suggested on this forum) that they close all management operations and minimise the cost of care and maintenance.

It would have been a small burden on the shareholders.

Amazing that this can be done and no laws broken. Move onto another board and see what can be sucked out of the next company.

Is an extraordinary meeting the only option to try to take control of the company and the costs that have been bleeding (or bled by some) from this company.

What does everyone think?