Medusa Share Discussion Threads

[c9ajl] 03/7/2023 09:14

Appointment of Voluntary AdministratorsHttps://uploads-ssl.webflow.com/625624dea6f87c59c23b175d/64a277bb612c9db05d6e7abd_2023.07.03-ASX_Announcement-Appointment_of_Voluntary_Administrators.pdf

[polaris] 03/7/2023 08:45

Oh dear. This was unexpected and needs a full company disclosure of state of affairs.

[c9ajl] 20/6/2023 09:50

Results of Meeting, New Board and Management AppointmentsHttps://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02677891-6A1154804?access_token=83ff96335c2d45a094df02a206a39ff4

[glavey] 20/6/2023 08:57

Edit.
Defer to post [38831]

[polaris] 19/6/2023 18:53

They probably resigned today as they knew the vote would go against them at the meeting. Better to jump than be pushed eh? There is little confidence here in new management and they will need to submit audited accounts for periods up to today before any relisting. Let's see what falls out there. We are also missing Q3 report and only 2 weeks from end of year. Lots of necessary news flow in coming days and weeks.

[geckotheglorious] 19/6/2023 11:05

I knew the Philippines was corrupt as fark but events at this company take the biscuit.

[glavey] 19/6/2023 11:02

And not just Kate George, but the whole board in favour of the proposed replacements!

Given the timing, it would seem one can only draw the most likely conclusion...


In more recent times, for one reason or another, seniors don't seem to last long at this company. It's a right old merry-go-round. One wonders when next will the music stop or might someone else find themselves thrown out of the saddle before it does?

[polaris] 19/6/2023 05:05

Hmmm... now Kate George has resigned with immediate effect. That isn't a good look for the company!

[boadicea] 16/6/2023 20:37

So it's a 'NO' from me.

[c9ajl] 16/6/2023 19:38

That sounds a fair assessment

[polaris] 16/6/2023 16:20

Vitrinite have no plan. The board, while not great with comms, are at least trying. Vitrinite parties have shown they are not to be trusted with support of Villanueva, the sub-standard assets and the not paying for their last attempt to oust board. That all smells of people out to turn shareholders over and really in it for themselves. But hey, it's just my opinion.

[boadicea] 16/6/2023 15:43

What is the concensus here on how we should vote? I am slightly in the "plague on both houses" camp but instinctively lean toward 'AGAINST'.

[c9ajl] 16/6/2023 13:45

If you're UK based and trade with ii. You can instruct them to vote for you by proxy.- Login and select secure messages- In the secure message title it something like 'X64 Proxy Vote'- Select the other relevant fields (account number & Corporate Actions)- In the message instruct ii how you want to vote in the up coming EGM (it is probably worth copying out the EGM details from the latest RNS as well)

[boadicea] 15/6/2023 21:52

This link may work if you're signed in on google -

[c9ajl] 15/6/2023 19:40

Posted on HotCopper in OzHttps://www.manilatimes.net/2023/06/15/regions/philsaga-president-releases-documents-to-prove-legitimacy-of-his-position/1896222

[polaris] 15/6/2023 16:11

I think it is more that Villanueva thinks it is his mine and has probably done a range of things over last years that are 'not exactly kosha'. His removal has shown a number of issues that must be addressed. The replacement has good standing, which is a plus. It's all about the in and outs of legal system going forward. This notice does outline the issues, which may have impact on audited figures. So we must wait...

[bushtuckaman] 15/6/2023 07:37

Another pearler from the company this morning. As Paul said with yesterdays news, it creates more questions than answered.

The newly appointed Philsaga chairman has been denied access to the Co-O mine, records and assets, the old Chairman has gone rogue à la Col Kurtz.
So how exactly is an audit being conducted in this scenario??
What a mess!

[c9ajl] 15/6/2023 06:11

COMPANY AND OPERATIONAL AUDIT UPDATEHttps://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02676444-6A1154256?access_token=83ff96335c2d45a094df02a206a39ff4

[polaris] 14/6/2023 16:37

As suspected, Vitrinite appears to be a party to any issues at the mine via direct support to ex local mine head Villanueva. The crrent letter, while addressing some concerns, leaves more open to question than it answers. It is 1 week until the 249D meeting. At this stage, anything can happen. We are over 4 months into suspension and i am more concerned with continuing operations and control. There must be clarity ASAP.

[c9ajl] 14/6/2023 05:40

Letter from Managing Director, Jeffery McGlinnHttps://mcusercontent.com/393487e990d1b9f5631994cf9/files/f6ea6746-1c0e-646e-6d37-8be429c81499/230614_Letter_to_Shareholders_from_MD.pdf

[geckotheglorious] 12/6/2023 21:02

It's the Philippines, corrupt as hell.
Why is anyone surprised.
Wont invest in Philippines ever again myself. Once bitten, twice shy.

[polaris] 12/6/2023 14:56

I can understand your feelings. If x64 was operating normally with current pog and mineral reserves then you would expect a share price well above A$1. There is some serious explanations required and, from my side, the potential for criminal proceedings against MML/X64 as a shareholder if it ends up that assets were misappropriated. Someone hasn't done their job by us, the shareholders!