Member Info for Skelly85

Jemesa, last week you were telling us EBRD would never sell out. That selling out was negative, and the drop below 5% was to setup the next stage of their investment.

Now everyone seeing how full of it you were, you've decided to not admit you were wrong, and say the sell down is real, and now THIS is the positive outcome.

How are you not drowning in your own shight alreadym

Fool.co.uk

Lol

If Jemesa had any credibilty left...

EIA hasnt been granted,

And someone dumbed 1.5million shares.

Lol

I see EBRB dumbed over 1 million shares today.

Gds,

The RNS literally says the "REQUIRES" cross border process. You understand the word requires?

Also, noone is saying the Germans plan to block this, so who are you guys debating? The point was that German bureaucracy is gonna SLOW DOWN the EIA.

Also Jemesa,

Im thinking your EBRD predictions are looking unlikely.

Someone is dumbing A LOT of shares the last few days....

Yea Jemesa,

So you're saying you don't understand the Germans then.

Hopefully your doing the same with Luckie and Jemesa?

Lol,

Now the EIA has to go through German Bureaucracy before it can be approved!!!

Do any of you understand what that means?

I do.

No AI required for that. Good luck seeing that approved in the next 6 weeks!

Your confusing the "big grant" with the JTF grant.

JTF grant is the one tied to EIA approval. Which is not the same people as the ones doing approval work.

Yea but if the share price hits A$0.60 then he doesnt have to meet ANY of those criteria and gets the shares anyway.

Adding the word "incentivised" to dilution doesnt make it any less destructive.

What Luckie never shows are real numbers.

Show a history, year by year to prove your dilution statements. Youll see that early investors have had their shares diluted A LOT.

Look at a tear by year breakdown of how many "incentive" shares KC issues to himself.

Look at how much KC pays himself every year, and how much he filters out of the company through his spouse.

You see a one way flown of cash and a long list of missed timelines. Missing timelines is actually an incentive for KC, because then he can have more years of salary, more shares issued to himself, and more money filtered out through spouses.

There is more incentive for him to drag his heals than get the project over the finish line.

Wake up!

Summary of Luckies comment.

It's great that there's no dilution! (Lie)

Let's support dilution and give more shares for KC

"Dilution is a non issue" is funny, since its actually being voted on tonhvae more of it, on top of the 18ish million shares already issues in the first 4 months of this year.

Those messages were AI extractions.

I can see a few parts are wrong, like the sale of the 3.6 million share. I think that was the divirce settlement, but a lot of it is factually accurate. The main points being shares were free, and lots of money goes out.

While we're at it, let's talk about what's actually been extracted in cash over the years. All from the audited remuneration reports — anyone can pull these off the website.

Salary trajectory:

FY16: $200k + super

FY17: stepped up to $240k from April 2017

FY18–FY20: $240k + super (~$263k–$294k total)

FY22: $318k area

FY23: $535k cash (salary $425,901 + bonus $48,922 + super $27,500 + LSL $32,762)

FY24: $818k cash (salary $478,322 + bonus $116,978 + super $27,500 + leave/LSL $195,098)

Base salary in FY24 was $595,300. Currently $460,000 after a "cut."

Cumulative cash compensation from EMH alone is roughly A$3.5–4 million across his tenure. In a company that has never had revenue, never paid a dividend, and whose share price is back where it was years ago.

Then the related-party stuff that doesn't show up on his line:

Everest Corporate (his wife's company): paid by EMH for accounting/bookkeeping. $144,218 in FY22 alone, plus rental income of $52,415 paid TO Everest for office sublet.

Nexia (where his wife is key management personnel): $89,105 in FY23, $206,278 in FY24, $100,015 in the 6 months to Dec 2024. So well over $400k just to Nexia in the last two and a half years.

That's another ~$700k+ flowing through entities his spouse controls or works at, on top of his own pay packet. All disclosed as related-party transactions in the notes — perfectly legal, but you have to actually read the notes to find it.

Add cash comp + spouse-channel payments + the 268k he extracted from selling expiring options off-market in 2020, and the total value of what's been pulled out of this company by him and his household is comfortably north of 5 million.

For a company that, on his watch, still hasn't built anything.

Now they want to issue him another 3.6M shares.

Worth a reminder of where Keith's 5,750,000 shares actually came from before anyone votes on giving him more.

Direct holding: 850,000 shares. These came in Dec 2017 as "loan CDIs" under the Employee Securities Incentive Plan — meaning the company issued him the shares and lent him the money to pay for them, interest free. He didn't buy them on market. The loan is still on the books at $592,245.

Indirect holding (via Inswinger Holdings, his private company): 4,900,000 shares. The history of that pile:

500,000 at the start of FY15 (early-stage allocation)

+4,000,000 during FY15 around the Cinovec acquisition / name change

+4,000,000 in FY16 from exercising company-issued options at A$0.166

Sat at 8,500,000 from FY16 right through to FY23

Sometime in FY24, Inswinger quietly sold 3,600,000 shares — taking it down to the current 4,900,000

He also had 2,000,000 unexercised options left over from those 2015 grants. Rather than exercise them, in August 2020 Inswinger sold them off-market for A$268,000 — three days before they expired worthless.

Then there's the 2,400,000 performance rights granted Dec 2020. Those expired worthless in March 2025 because the milestones weren't met.

So across 12 years as a director, every share or right he's ever had came from the company itself — initial allocations, option grants at deep discounts, loan-funded shares, performance rights. There is no record of him ever buying a single EMH share on the open market with his own money.

And now the May 29 AGM is being asked to approve another 3,600,000 performance rights to him and Pavlik. That number is not a coincidence — it's the exact number Inswinger sold during the downturn. He wants to be made whole on what he sold, but for free instead of buying it back like the rest of us would have to.

For KC to have been as punished as everyone else he would have needed to pay for his shares like everyone else, and not have been paid handsomely for the last decade.

Performance rights.

A.K.A

Dilution with outward cashflow instead of inward.

Just what you need when your bank account t is empty.

Yesterday Jemesa talks about EU sovereignty being a priority and thats why Geomet will definitely make ot to production with EU support.

Today he's saying Geomet will make it to production because China is gonna buy out the EU VW plants in the EU and take Geomets lithium from them?