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" It does seem some PI's, balanced or otherwise, approve the huge remuneration awards"
I dont think any PI's approve the "huge renumeration awards" - why are you posting such nonesense. Your posts used to be a little bit more sensible - what has happend to you !
I for one would be happy to push for an EGM and the opportunity to get our opinions heard. I'm all for voting on some resolutions about the number of directors / reducing SG&A to a level commensurate with the size of the business and other areas of shareholder concern.
I'm a little bit stumped by this 5% of the vote / nominee holders business. It appears clear that there was more than 5% of shareholders ready to support an EGM - its not clear to me why this cannot be submitted via the nominees (Hardgreaves & other Brokers) in the same way that we are able to exercise our voting rights on an AGM through the Nominee (hargreaves).
Anyone here understsnd what the roadblock is.
The gaming industry is huge but are there any Companies out there making money out of in game advertising - its clear the Draper isn't.
Same resolutions I voted down except I also voted against Alastair Steward - why do you need a highly paid COO when your non operator of less than 300 bopd. Be interesting to see how many investors vote against him.
“…..but this would affect every company in Canada”
What a load of rubbish - how many of the 50 odd companies in Canada are more than 77% gas and NGL’s - not many and I suspect those microcaps that are would be trading at a significant discount to large caps or oil weighted small caps.
Just reviewed their last report again - Management Salaries are handsome for a Company only making about 5m in revenues. They have over promised and under delivered for years but they claimed this was a transitional year in moving to scale - next financial update I believe will be crucial in determining whether this is a rough diamond or a donkey dropping.
I've not decided how to vote yet but agree that Director Emoluments are excessive for a Company of this size. My understanding is that there was a large vote against the Directors last time round - I suspect it will be worse now.
Agreed - been a pretty painful ride for investors here. Has Justin Waite every covered this again after pushing it pretty hard a couple of years back - be interested to hear what he has to say now.
Its been a while since I checked in here last and the news doesn't looked to have improved. Is the CEO the right man to move this forward. He does not seem to have made any progress over the last few years.
Well it looks like they have removed Jim’s / Louis posts that provide links to his paid blog . They should really go a step further and remove all his posts - not seen a poster create as much aggravation as OMJ. A big thumbs up to those here that are posting informative stuff worthwhile reading.
Thank you Stats - I asked for you opinion and you gave it.
I would just add though that the restructuring was not due in August - it was forecast for August subject to various conditions including Court schedules. They said they would update when it was firmed up which they have done. I think you recognise that its not the norm for public companies to give a step by step update of any particular process - I think most would have communicated exactly as i3e have done. If you disagree - lets agree to disagree.
I'm was not hoping for anything specifically - just your balanced opinion.
"It is not the last three months that have been the concern...." so this was basically what I was getting at. Most agree that in the past - communication / reporting has not been good enough and I think i3e have recognised this and are committed to making some improvements.
So this is the expectation going forward - however - the misjudgement on the dividend / capex budget was made 10 months ago and addressed by i3e in the June RNS if my memory serves me correct. The June RNS said Q3 dividend in October, capital restructuring ( the're a little late but i'm not sure it matters much - the process is entirely out of their hands) and a Q3/Q4 drilling program subject to q3 financial checks. So i would say they are basically on track for delivering all of this.
So what else could they have reported on given the plan they outlined in June. Imo - many here regurgitating old gripes and not giving i3e time to execute the amended plan.
With respect Stas20 - I dont think you have answered my question at all - I asked what they could have done better / different after the updated dividend / capex announcement.
Also bearing in mind that the budget and dividend were set in Dec 2022. All your points are post the updated capex / dividend report which I think was in june 2023.
Stas20,
I’m interested for you to elaborate on your post with particular focus on actions/inactions post the revised dividend / revised capex RNS. What in your view should they have done. Not a trick question - just trying to see through another lense.
I will respond to GGG’s post a little later - there’s a lot to unpack there including spin and misinformation as well as opinion packaged as fact - usual carp.