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Yes it's a car crash interview if your invested but if you weren't it's a fantastic interview of someone telling the truth for once. Wouldn't it be a much safer investment platform if all companies told the truth? Much less chance of losing your hard earned.
Good point Cyber on freedom to buy, which incidentally we also have, and with the info shared the timing is accumulation phase imho
I thought the same conker when he came out last year, but actually now if you listen to it again (link provided below) with the benefit of hindsight he was actually telling the truth and not dangling a carrot!!!!
He said Mozambique won't provide major cash flow to pay for large exploration. He was right! We have had to raise over 10 million and that won't even pay for all of bushranger.
Its a shame we cannot get rid of Alastair Ford, I dont see what he brings to the company at all, especially after his one and only car crash interview.
He’s the perfect project manager to really focus on Bushranger. This is the laser focus it needs to do it justice - cracking move BOD.
Taken for XTR website, assuming it’ll be taken off shortly.
Jeremy Read is an experienced minerals resource industry executive, having worked on a broad range of precious and base metals projects in Australia, Africa, North America, India, and Scandinavia. Mr Read has wide ranging experience from project generation, greenfields, brownfields and project development. He has extensive exploration experience for gold, copper, and nickel sulphides. Mr Read spent 11 years working for BHP in Africa and Australia, including several years as the Manager of BHP’s Australian Exploration Team. Mr Read played key roles at BHP in the discovery of the Kabanga North nickel deposit, in Tanzania, and the Cairn Hill magnetite-copper deposit in South Australia, and subsequently at Discovery Metals Limited, in the discovery of the Boseto Copper deposit in Botswana.
Since 2003, Mr Read has concentrated on developing junior mineral resource companies. He has been the Managing Director of a number of ASX-listed resource companies: Discovery Metals Limited, Meridian Minerals Limited, Avalon Minerals Limited, MinQuest Limited, and Pursuit Minerals Limited. Mr Read is a Member of the Australasian Institute of Mining and Metallurgy (“AusIMM’”).
Is it possible that they are considering an IPO on Bushranger assuming phase 2 is successful?
Gives Jeremy a lot more freedom to trade (buy) shares when he's not a Director, closed periods etc.
The NED stuff can be done by a London suit and let Jezzer focus on getting the copper and gold proved up.
overall definitely a good thing GLA
Steve, not currently but there is an ex health minister that would be an excellent candidate for Xtract and I have no doubt would flourish in Africa :-)
Xeiger - Do we have anyone with the relevant back-hander experience to get things moving?
Sounds like a good move - prioritised to Bushranger and not side tracked by other XTR workstreams. Sounds like they want to throw everything at Bushranger and that means an internal reorg.
I think to get a balanced view on this development you have to understand what is involved in the duties and responsibilities of a NED. We have to assume that, to some extent at least, this has been mutually agreed. Which would NOT be negative. A pure 100% focus on project management at a critical time for the company utilising this chaps core skills rather than an annoying add on doing corporate and possibly financial and governance stuff seems a bit of a waste. Maybe I am trying to put too much a positive spin on it but to me it makes sense.
Maybe someone who could get across to Africa on a more frequent basis and can perhaps have a positive impact on the timelines.. ?
It feels like the company is maturing and I don't see a problem with asking Jeremy to focus on PMing the flagship project that could make a lot of people very rich... including himself.
To clarify I meant Jeremy stepping down doesn't appear to be particularly good news.
Wanting to cash in on Bushranger could be a valid explanation which puts it in the neutral/ positive territory.
It doesn't seem like good news but you could have a very valid point Joeman.
Is Christian Cordier likely to be a candidate?
Maybe he wants to be able to cash in on Bushranger when it flies...... 10 million shares and currently every sale would need to be reported.
I know I'd be considering it....
It makes sense for him to step down from the box and concentrate as a project manager on something as major as Bushranger.
It must also be difficult with Aussies strict entry and exit rules with a BOD mainly in the UK. I don't he s actually seen the Rest of them face to face for 18 months...
I wonder who the new non exec will be.....