Member Info for del929

@wandgrabbit; in what way did your world change for the better after the first suspension?

@stej; do you honestly believe the auditors only identified these issues today? a proactive bod would have been getting regular updates. saying the day before the ar is due that we’ve just identified a 4 week delay is absolute bull **** in any environment. let’s be perfectly honest none of us are shocked that this happened.

@Stej; it’s hardly a good reflection on the company. Maybe if they hadn’t left things until the last minute they might have been aware of the issues and been able to resolve them before 30 June like they did in 2022 in exceptionally difficult geopolitical circumstances! It sounds like another excuse to me which conveniently delays the publishing of the AR, accounts & AGM. Another 4 weeks of not having to answer shareholders. Getting the year wrong on the RNS today just about sums up how utterly useless CS & our NOMAD are, how many other mistakes has he made that we’re not aware of?

The first suspension was 11 Feb 2020 to 9 July 2020. The second one was 16 - 17 May 2022.

@Mac; do you mean the suspension on 16 May 2022. What happened after that?

I asked YJ this morning if everything’s on track with the AR. This was the reply I got about 20 mins ago;

“The Company is liaising with the auditors and the NOMAD regarding this, and it will announce a statement to the market in due course. We are not getting involved in that process, so unfortunately that is the best we can offer”

@Jarv55; fingers crossed they are much more transparent. It’d be nice to know if the tax credits, VAT returns & proceeds from the sale of concentrate etc are in the subs (KK) accounts or transferred to EUAs. Likewise I’d love to know what the BODs current salaries are (post JN resignation & I believed they’re also reviewed every Nov) as opposed to what they received in 2023 but I can’t see that information being given up voluntarily. So many questions but trying not to think too much into it until we get the AR hopefully Monday 7am at the latest but sooner would be nice.

@Jarv55; going on previous form I think CS will only tell us the very minimum required by law in the Annual Report. We all need to go through it with a fine tooth comb and ask specific questions at the AGM to fill the gaps. We already know that he will try to dodge difficult questions or give vague responses, we have to hold him to account on every word and ensure nothing is left for us to debate afterwards. The Suspension, FSP then NDAs have all been very convenient in allowing the BOD’s silence for the last four years and they really do need to give us clarity on the current situation and justify their strategy going forward. Will we get all that, probably not but as shareholders we have to try as this has gone well beyond frustration now and I’m sure we can all agree that we want a conclusion asap as another year of this bloody Asset Sale will not do any of us any good!

@RnR; yes she did. Hopefully someone will have access to more details and will let us know.

21 Jun 2024 09:30 Application hearing

Nicola Rushton KC sitting as a Judge of the Chancery Division.

Remotely via MS Teams.

There been an entry on caseboard today, does anyone have any idea what it’s about?

Filing

25 Jun 2024 Order by Judge Order - Order - Nichola Rushton KC - emailed to parties 25/6/24

Many thanks for posting the 2023 AGM transcripts so everyone now has access to them. Hopefully it’ll clear up a few debates on here and I’m sure it’s appreciated by all posters. I only had a screenshot of the pages and this is much easier to reference, copy & paste.

@Trowtech; the proof has been posted ref what CS actually said. Why are you focusing on Crypto instead of asking IKN to prove his original statement?

CS response to the question at last years AGM on how many NDA’s are there in place and when do they expire?

Basically that varies a lot through time as some are extended and some new ones as recently as June were signed. They usually have a 1 to 3 year timeline and as I said they can be extended.

@IKN didn’t he say they usually have a 1 to 3 year timeline.

@EIE10; agreed ref NYUD and hope the BOD can confirm in the AR or at the AGM if there’s any expiry on activating the agreement, hopefully that’s not covered by any NDA. It'd have helped if CS just answered the question last year instead of giving us the response he did.

@EIE10; just checked my notes and this is what was stated by CS!

We can’t produce Reserves & Resources figures for deposits we don’t own! This contradicts the Reserves & Resources RNS!

Ref NYUD having an expiry; as per Annual report no final decision has been made with respect to NYUD.

@EIE01; cheers mate. It stated NYUD in one paragraph but Rosgeo in the next so isn’t crystal clear, I asked for clarification but no reply. I hope it’s only NYUD. I asked at the last AGM if the NYUD entitlement expires and think the response was it doesn’t but I’ll need to double check on that. I’m sure CS also said they can’t comment on resources for NYUD as we don’t have the licences which adds to the confusion. Nothings straight forward with our BOD.

@osf; thanks mate. I found this so think it’s every 3 years.

47.1 At every annual general meeting of the Company, any Director:

47.1.1 who has been appointed by the Board since the last annual general

meeting;

47.1.2 who held office at the time of the two preceding annual general meetings

and who did not retire at either of them; or

47.1.3 who has held office with the Company as a non-executive Director (that is,

he has not been employed by the Company or held executive office) for a

continuous period of nine years or more at the date of the meeting,

shall retire from office and may offer himself for election/re-election by the Members

Looking back I think CS, Artem, Iain and one other all got re-elected at the last two AGMs! I’m trying to find out what the rules are for having a CEO as I think CS is self appointed and filling the responsibilities with our Russian CEO. Think it might be just the Japanese INEDs up for re-election.

@GLG2; I spoke to Keith about it and he agreed, he spoke to CS and they removed the all that info from the website but never updated the RNS. I can only assume the current R&R figures are higher otherwise anyone who bought shares after that RNS would surely have been misled! Either way, a shareholder should be provided with the information required to make sound financial decisions not have to guess everything.

Surely this should be all the information we need until the MT DFS is published, however it includes Rosgeo so can’t be correct. I’ve asked the company, NOMAD & YJ why an updated RNS hasn’t been issued but none respond!

https://www.lse.co.uk/rns/EUA/reserves-and-resources-update-yo5o2qemf1ltax1.html

@IKN; I was of the impression that all SP sensitive information should be released to shareholders straight away. Imo there should be zero circumstances when this is allowed especially given the time this process has already taken and the recent SP decline/rise/decline.