As we fall through 52 week lows there is evidently a lack of corporate governance with respect to stakeholder values. The board charter states.
The Board is also responsible for ensuring Cerro Resources recognises its legal and other obligations to all legitimate stakeholders from time to time where and to the extent appropriate.
“Stakeholders” are groups that are likely to feel a social, environmental or economic impact from Cerro Resources’ actions. They include shareholders, employees, contractors, regulatory bodies and members of the communities where Cerro Resources operates and are affected by Cerro Resources activities.
The contined news blackout has eroded shareholder value and caused the market to lose complete confidence in current management. How can the board sit idly by while this debacle contines is beyond me?
Further to this point they have also failed us under their legal obligations to shareholders for disclosure and communications. The website is covered in mothballs and we are all mushrooms. Waiting in the dark and getting crapped on.
Governance Materials The operations and conduct of Cerro Resources are administered in accordance with all governance materials adopted by the Cerro Resources Board, including but not limited to: ? this Charter; ? Audit & Risk Management Committee Charter; ? Remuneration & Nomination Committee Charter; ? Code of Conduct and Ethics;Date of Board Approval: ? Continuous Disclosure Policy; ? Shareholder Communications Policy; ? Financial Management Charter; and ? Protected Disclosures Policy
CJO Price at posting:
8.0¢ Sentiment: Hold Disclosure: Held