VIC (ASX) Ann: Company Update

Originally posted by Sentia717 ↑

Originally posted by pc3
Sentia,

While we have had our points of difference you know I agree with a lot of what you post. I just wanted to keep some perspective.....living in hope maybe.

I agree that we need to spill the board and Clee and Elingford should be banned from holding directorships for life, they have never shown any skill at managing company's. And the Blumenthals/Everblu are simply shitstains.

I invested on nearlogy and potential positive drilling results (my own stupid green horn mistake) I did not expect this level of incompetence/skulduggery which ever case it may be.......

Back to your question, firstly is there a process flowchart to follow on how the action at HDY was taken ?

I think that would be good...

Also as a group collectively do we transfer our shares over to a "company" of which we are all share holders e.g

#VIC TO Nominees Pty. Ltd. clear.png

and then take action to spill the board ?

The thing is who would want the job ?

Point being firstly I'd like to understand the "steps" that need to be undertaken..I have only read the posts on HDY intermittently.

Really we should be acting in tandem with HDY..if at all possible, even amalgamate the companies once this board is tossed, if possible

There also needs to be a Incompetent Director's register formed on the internet.................right beside the one that needs to be instituted for sex offenders.
Hi pc3. I am not sure whether you followed up with my comments yesterday to you about finding out how the HDY people got their effort up and running. Later thinking about it I did put out a plea on HDY for some advice on how they went about it. I see that AussieBryan actually replied (as i was busy later yesterday I didn't see that until this morning. While his reply confirms some things he hasn't provided as much detailed info as I was hoping. So I have replied to him with the basic first steps as I understand it in the hope that he might be prompted into filling in my sketchy knowledge.
It is obviously quite a task but could be worth the battle and the frustration and beats doing nothing. As I do not live in Australia I think it is best if someone Aussie based takes on the anchor role and sets up the contact point.
Happy to aid the process.

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Thank Sentia,

I am happy to help some how but I'll need some or a lot of guidance (this would be all new to me). This is the second time in 1.5 decades this has kind of thing has happened to me. First time with a mob called Montec International now Australian Whiskey Holdings code AWY...director there Terry Cuthbertson another lifestyle director who has failed to add any share holder value anywhere credit raises, consolidations......you get the picture.

So what do we need consider;

1. Will the ASX follow through with delisting VIC ? there seems to be a train of thought they will not, so where does that leave us ?

2. Do we (or all who are interested) transfer our holdings to nominee e.g #VIC Too Pty. Ltd. ? if that's the case we would need to form a company...there are ongoing costs with that, ASIC fee and initial cost of set up, did it years ago for a property development I recall might have been around 1k ? Who would manage the register etc. Or can you go through the likes of a Citibank or UBS to do it for us ?

3. "IF" VIC trades again do we still need to form this group ?

4. If we got far enough down the track, and had the votes to kill off Elingford and Clee...what then ? Who would step up ? I'd work for VIC in some capacity if required....I couldn't do a worse job than the pack of muppets running it at the moment....maybe we could poach Marcus Hughes from AUZ, who has just left FMG

To have a Ken Brisden type step in for even six months and give this some direction or at least a fighting chance to see if the tenements are in fact any good.

How hard was it, forgetting their past "sand shoe transgressions"

1. organize funds in a non-corrupt fashion e.g not pump up sheet stains like everblu....worse than the Bergen global opportunity fund it would seem.

2. Organize contractors to drill tenements...properly not three bloody holes.

3. Organize lab reulsts

4. release to market good or bad ?

5. Draw a reasonable wage in line with where the company is at. When/IF you become a PLS and you have the runs on the board then look at some performance type remuneration.

6. If results good get a JORC

7. Package up for takeover as they DO NOT have ANY mining nous

Lots of other little bits and bobs as well I understand......

It WILL be a massive learning curve...........I am as flat as a tack to be honest it beggars belief that if you look back through the history of Clee and Elingford that the ASX haven't clipped their wings prior to this, really from sneakers to mining........

I am actually ashamed of myself for falling for it, looking back on it it. Like falling for a Nigerian e-mail scam

If someone is willing to put an e-mail adress up or organize a "hurtvicholders@" etc. so that we could possibly do some co-cordintaing off line that would be good, might be an idea I figure Clee/Elingford have glanced at proceedings here at times.

I have a little "luddite" in me but should be able to do that if people think its a good idea.

Or do we wait and see what occurs with HDY ?

Happy to hear all/any ideas ?

I have rambled on a bit I know.....

Thank Sentia, I am happy to help some how but I'll need some or...