RE: Shares in Issue10 May 2020 14:51
Like yourself JJTM61, enough is enough and also I feel the need to make comment.
AURA must be one of the most undervalued uranium stocks in the world given it has a fully completed DFS on its Tiris project with an ASIC of sub $30. It also has a highly prospective gold license not far from a large producer in Mauritania and has completed a scoping study on its vandium project in Sweden. Yet the market cap of the company is only around A$8m. Why?
Current management have paid themselves well for poor performance, timelines have never been met, cash has been exhausted resulting in the need for continued cap raisings each at reduced share prices. Unfortunately a major raising last year through the issue of a convertible note to Lind resulted in a huge number of shares being regularly issued which continually flood the market, resulting in a record low in share price and a falling market cap. Despite the A$2m raised through this facility we have not had the much promised scoping study for the Swedish project and there has been very little progress in their uranium or gold projects. Why?
Management. It seems they just don’t have the ability. No progress.
Yet now when major shareholders have said enough is enough and challenged the company, the current management rally themselves to protect their positions by appointing 2 new directors and then issue more shares at excessive discounts to help provide votes for their cause.
The meeting on the 21st May needs your vote for change, to stop the dilution, reduce overpaid management, introduce accountability and demand performance from management. You must vote by the 19th May.
If you do not vote you basically allow current management to use your vote!
If you would like to see a change to the current situation as outlined you
need to contact your broker ASAP on Monday, and tell them how you want to vote.
Vote for change.