1. Bring on an independent director.
2. Dev resigns as Chairman of the Board, Fission appoints Frank Estergaard.
3. Reconstitute the compensation committee.
4. Eliminate golden parachute for Dev.
II. Overhaul compensation and align leadership with shareholders
1. If Dev remains CEO, reduce salary to $1 and freeze any stock-based compensation. Share-based compensation for others should be performance based.
2. Do a small financing in which insiders participate for a premium. e.g. Dev participates for $3mm at $0.75.
III. Explore alternative financing methods and reduce capital spending.
1. Altius Minerals (ALS) and Anglo Pacific (APY) both hold uranium royalties. Perhaps Fission can sell a 1.5% NSR to one of them for $7.5mm with an option to buy back 0.5% for $2.5mm. Third party validation would also inspires market confidence.
2. Reduce exploration spending with the aim of preserving capital until market conditions improve.