RE:RE:RE:RE:RE:AZX Dissident Group led by Owens wanted new BoDThe JV with PRB does not seem to progress at a reasonable rate. It would seem that PRB is putting it in the backburner. PRB priority is on the Beliveau project and Detour. Not much was discussed about the JV with AZX.
Listed below are a few of management shortcoming:
- The Dissident Group led by Owens seems to point the finger at the current BoD, but Owens and two of the members of the proposed BoD are sitting in the current Board. Owens is also the CEO and President who has not advanced the RE of Orenada, since 2009. It has been 9 years since the last RE. There is no excuse for this inactivity. This sin should fall on the CEO's lap, not the BoD.
- Owens along with the VP/Corp Development have not been able to market the two major properties in Manitoba (they could fetch millions of dollars in cash, to avoid share dilution).
- The webpage is a mess. Most of the stuff are out of date and nobody in IR seems to take care of the site. One glaring example is this important NR. It has not been published on their webpage yet, at the time of writing.
- E-mails from investors/shareholders were not replied.
So, to be fair to the current BoD, perhaps the lead dissident member (i.e. Owens himself) should take should shoulder some responsibility of his mis-management rather than blaming the current BoD.
The blame I would put on the current BoD would be that this current BoD has not been tough enough to take the initiative to appoint a new CEO and President to run AZX. Also, get another Corp Development VP and someone to take care of the IR department, including the website management and to be more responsive to investors' inquiries.
Perhaps, this is a golden opportunity for the BoD to do so. Clean house.
GH
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easycoder wrote: I don't know about 'gave away' to Probe. It seemed a resasonable deal
https://www.azx.ca/alexandria-minerals-to-partner-with-probe-metals-on-eastern-portion-of-cadillac-break-properties/