Member Info for Gixxer-600

"Nexus agreed because they know that this mine has a great underlying NPV and they want to be part of it. " - But they were already part of it, and now, seemingly, less part of it!

Of course I'm happy to see blue on the board for once but I can't help wonder why Nexus agreed to this? - Yes they get 76k bung but you can bet this is not Altruism....What else are they getting in return?

Out of interest, does anyone know if the original deal was to split entry fees? (All Entry Fees received from the Contract Miners after 31 May 2018 to be divided equally between the Company and Nexus)

Thanks to those of you who completed the poll and indeed to those who contacted me personally.

Maybe a good time to share some results:

So, to date 29 people voted and it's no surprise that 93% of those who voted are unhappy with Birds efforts to date. 72% of those would like to see Bird resign. Only 2 voters declared that they are happy with CBs efforts and would like him to remain.

In terms of H5O's suggestion of us writing an open letter to Bird this seems like the next logical step. Should we not be satisfied with any response, further steps may include the calling of an EGM or a vote of no confidence.

If you are not happy with the current situation I urge you to contact me on the email provided. The greater the number of shareholders listed on the letter the better, if we are >5% he must take notice...

Contact details: xtrshareholder1@gmail.com

As a large shareholder in XTR I have grown increasingly concerned with the way the company is being run.

In order to gauge the general opinion of others I have set up an online voting system (See link).

http://www.easypolls.net/poll.html?p=5bc9a946e4b00ce2d916c623

Moving forward, I would like to send an open letter to the BoD expressing a vote of no confidence however, In order to do this there must be a minimum agreement of 5% of the total shareholders.

I have set up an online spreadsheet to collate the total percentage of dissatisfied shareholders. I generated a new 'XTR' email address (xtrshareholder1@gmail.com) others can do the same or just send me one your comfortable using and your holding. I should also be able to add you to the contacts list and you can see the total holding for yourself.

Please feel free to share on other forums....

Sorry B666 but I disagree again. My business is engineering contracting. Most of my work is through large companies/government agencies - Let me tell you they have faffing and red tape down to an art form. It's never taken longer than 6 weeks to organise/sign and for me begin work!

You're kidding right B666? - With all due respect are you saying we've only got one day a year to voice our concerns? We, as shareholders, have the right to voice out opinion at any time. We do, after all, own this company between us.

AS far as I'm concerned Bird was already on thin ice pre AGM. Furthermore, the promises he made during the AGM have just not materialised.

I mean, how long has be been telling us new alluvial contract are about to sign contracts? 1/2 a year now? - Think about it logically, you sit down have a meeting with contractors. We discuss what we want them to do and agree on a cost/timeline. We already have draft contracts from previous/current alluvial contractors so they only require minor modification. Let me tell you this does not take 6+ months. The fact is either Bird is not fully focused on XTR or he's just inept. We need someone who IS going to be fully focused on the job at hand and sooner rather than later!

We're now about to go into another rainy season and we know from experience contractors will struggle to make decent progress during these times. If we don't get them up and running and extracting gold sharpish the cash call will come soon enough.....

Hi,

I understand some investors here set up an action group to try and get some accountability from the BoD. As a, dissatisfied, investor in XTR I would like to do something similar. Any advice regarding setting this up would be appreciated and it would be good to know if you've had anything positive actually come from it...

Interesting delving into the background of Silberstein - The BS on our webpage makes him out to be a superstar:

'Prior to this Joel held the position of Group Controller and Vice President Finance of Toronto Stock Exchange quoted European Goldfields Limited, where he supported the executive team in growing a mining concern from exploration through development phases until the Company was taken over by Eldorado Gold Corporation'

'Group Controller and Vice President Finance' sounds pretty important eh? - Well, he was actually in charge of...wait for it..... 4 accountants according to his LinkedIn page. Done pretty well to pull in a 100k+ salary off the back of that.

Also interesting to note that he's listed as a consultant for HA8 Resourced Ltd. A little digging reveals that he, and his wife, are actually directors of HA8 which was registered the same year as he joined xtract. I hope were not paying you to do work for other people JS?!

REf: https://www.linkedin.com/in/joelsilberstein/
https://beta.companieshouse.gov.uk/company/08134618/filing-history

No doubt CB has contacts and is therefore, perhaps, useful to have in the background - As for being at the helm....No way

You call what he's doing 'Running a company'? - If I ran mine like that I'd be on the receiving end of a law suit!

We need someone like Nick Mather's - He's got a lot of skin in the game, knows mining and he actually cares about the company he's in charge of! I'm also a fan of Eric Roth (EX MARL) a very experienced, no BS, miner.

"The Companies Act details that 5%,of shareholders can legally invoke a meeting to be called to debate removal of a particular board member(s)."

Well, I have about 1.5%. anyone else in?

I'd agree with that too!

Based on what we are earning ATM any generic accountant could do the job. Mines pretty good and only charges me 150 a month. Bargin!

But didn't he take shares in place of a salary?

Getting pretty tired of this. I have confidence in the FB project, its clear from the work done to date that this can indeed be a profitable venture. I must say however, that I've had enough of Bird now - Its clear he does not have the aptitude for running a company.

We cannot go on like this, as I mentioned, its a good project which has potential to return good value to shareholders. We just need someone competent to extract value - Colin Bird is certainly not that individual!

Lets look at his past. He's been in this game a long time now and, as far as I can see, has done nothing of merit in any company he's been involved in. One has to ask oneself why He likes his name on so many boards? but what value is he adding to any? Arrogance over ability

His nativity/stupidity in terms of, in many cases unofficially, informing shareholders good news is around the corner and then we hear nothing for months on end + his ethos of over promise and under deliver is destroying the company and decimated the share price. It does makes me wander if he had a bigger say than he claims all along, was JN was merely a puppet? - Lets face it the company is still being run in the same vein as before.

Is there anyone with, company legal experience on here? I'd like to propose that we send Bird a vote of no confidence. A registered letter, rather than email, expressing our lack of confidence in his abilities and I also propose we list our names and number of shares held. I'm pretty sure, in his arrogance, that he has little idea how much shareholders distrust him now.

A4444 are you still around? - I think between us we have enough shares to get the attention of the board!

No worries there then: Oregon's Todd Hoffman leaves 'Gold Rush' to pursue a singing career, and TV production

ref:https://www.oregonlive.com/tv/2018/03/oregons_todd_hoffman_leaving_g.html

'As always, the Company is active in seeking out other opportunities which may diversify commodity risk, and at time when we are debt free which will help to add further potential for significant shareholder value growth. ' - This comment concerns me a little. I hope he's not going to get carried away and get us into debt by buying into some concession in Zim.

TC64 - If I remember correctly he mentioned 'the Americans' to CaptainBob at the AGM along with the, now infamous, 'brilliant' news in 6 weeks.

.......Perhaps he meant 6 months?

If CB is to be believed, it does look like XTR not fully given up on the Alluvials as a source of income:

"The Company is currently discussing with various contractors new contracts or revised contracts for the newly apportioned concessions. The discussions are based around a dividing line between river alluvials and terrace alluvials and our discussions are directed towards concluding agreements in the near future." Are these Americans he mentioned, an age ago, about to sign up I wonder?! (Knowing our luck its Todd from Gold Rush)

What is there to say? We wait....and wait.....and wait.................

We could do with a bit of luck like this:

http://www.msn.com/en-gb/money/news/there-was-just-gold-everywhere-as-far-as-you-could-see-miners-discover-90kg-of-the-precious-metal-worth-a-whopping-dollar15million-in-just-four-days/ar-BBN6RgW?ocid=ientp