Name change to Vango Mining? Really? Vango is the name of a camping product supplier in the UK! Just how stupid is Frank? If Vango takes umbrage and lodges an objection based on copyright infringement, Ord will be in trouble.
Secondly, how can Frank justify the cost of a brand change when the company is struggling for cash and it continues to pay him $410k per annum ($360k + super + allowances)? There is no commercial justification for the name change and I believe that if it makes no tangible difference to the company within say, 6 months, Frank should be sacked. He has no idea how to run this company, he is commercially illiterate and makes ill-informed decisions on the fly. I suspect it is time for the other two board members to make the call and recruit a CEO/MD with grey hair and industry experience and a modicum of commercial sensibility.
VAN Price at posting:
0.2¢ Sentiment: Hold Disclosure: Held