RE:RE:RE:RE:Another note to Mr. BoneGreat, go for it.
Since we cannot be sure what happens to a note sent to investor relations, we have no alternative, I suggest that, in the text, you request that your email be forwarded to each of the members of the executive: Bone, McCartney, Thomas,and Corcoran.
The executive is in need of an injection fresh blood. McCartney is 77 and Thomas 72.
Before the last AGM I sent out some emails requesting that the motions to allow expanding the mandate to other royaly generating investments be voted down. The result was what I wanted, but cannot assume it was a result of my efforts ! I also suggested reducing the number of CA members. Got no visible action on that !
It is clear that there is a possibility to reduce SG&A expenses. If they do not do anything they will not be doing their job. An activist shareholder could really shake this operation up, although one of them could destroy a good thing.
You ask what they discuss at meetings. They must have been discussing investing in other royalties, in general and specifically, to have brought forward the resolutions for the AGM. It could be argued that that was not part of their mandate. I suspect that some of the more recent additions to the board got involved with that in mind from the start of discussions. Two of their number are on the IOC board so they must talk about IOC affaires. IOC has not needed any capital from it's owners as enough cash was being generated internally to fund recent needs. I do not think Rio would put any $ in anyway as that is not their style and IOC is not central to their plans. They never bought in anyway, at least not intentionally. They got IOC as a surprise package in the box of crackers they bought when they bought North. IOC never asked for cash and paid dividends so they have held on to it.