GREY:DULMF - Post by User
Comment by
miningfundion Mar 31, 2014 3:31pm
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Post# 22391784
RE:MD&A on overhead reduction, cash position $12.3M
RE:MD&A on overhead reduction, cash position $12.3M
Management of this C$80 million company should get serious - it needs to focus and stop tinkering around the edges:
Eliminate one top level - combine the CEO and president, or eliminate the COO position
Seperate the Chairman and CEO positions - the combination is poor corporate governance
Focus exclusively on the Project - the exploration properties will not be developed within the foreseeable future - save $1 million p.a. Management failed to spin them off previously, it will continue to fail. At most, keep the key properties in good standing
Eliminate the VP Exploration position. Eliminate geologists to the bare minimum (one?)
Close three of the four company offices
Review the competency of the IR function - F grade?
Review the competency and independence of the "independent" directors - F grade?
If the above is ignored, stage a shareholder revolt and throw out the board and management