RE:Annual and Special Meeting of Shareholders ReportOrdinarily I would not make a public comment about Bulletin Board publications but I cannot let this one go by unchallenged.
During my time in office as the President of Orex I took a pride in the work that I did moving the project from a dream to a proper business after twenty years of the corporation achieving very little. However, whilst Jacques Levesque remains firmly of the view that "their will be no consolidation" and no fund raising under five cents the business does not seem likely to make progress in the near future.
As a mining financier, with thirty five years experience in the sector, placing shares at five cents when the quote is 0.5 - 1 cents is a trick that I have not yet mastered. In addition JL was not prepared to contemplate any financing round that did not include full funding to develop the project to production. It has been my experience that no bank in the mining sector would make a commitment to fund a project that still has a year of important work including a detailed mine plan and environmental approval to be completed prior to the commencement of operations.
I resigned because I found out that my name was not being put forward at the AGM for re-election as a director and officer. It is impossible to execute the role of CEO when the CFO uses his shareholding to make every decision for the company and so I quit! The company had no funds to pay out of pocket expenses, never mind any fees since June of last year.
It is not the job of the CEO to buy shares to support an ailing market place...that is merely an obssession of Jacques Levesque.
I would express my gratitude to GLTA for his account of the meeting.