conversion or default, page-141

 

 I totally agree with you both and after some thought today, I cannot see the company moving forward with the current Board. The CEO runs the company and instead of being answerable to the Board he rules it and even if he appoints another director, this director will be controlled by him. We will be constantly worrying about what the CEO is up to and so will potential future investors. The share price is doomed and IMHO this Board did not expect their plans to not go ahead. Their 5 for 2 rights issue @.4 cents and the con notes @.35cents would have plummeted the share price but this Board didn't care about share price destruction as continuing as a public company was not in their plan.

I don't think we should also rely on ASIC to punish these guys even though they have obviously breached every law pertaining to directors duties etc. I would love to know what really happened last year and now I also want to know how come they did not go ahead with CR. Maybe it was hard for an expert witness come to grips with a gold producer with good prospects that was going to destroy the company's share price with a ridiculous CR. However we will never know but we have to move soon. I will start using the facebook page so we can plan our next move.