PGM (ASX) PGM

Originally posted by laser1 ↑

Reply received so full marks to Dr Hartley. I imagine he won't be surprised to find the correspondence here, but apologies in advance if he feels offended.

And as I quoted the Irishman earlier "the longer we don't have one, the sooner we WILL have one. ah well........

" Dear Mr ...,
Thank you for your email expressing your concerns about the lack of news on the CEO succession. We made the release about the appointment of John Anderson on 9th April and included a reference to the recruitment process for the CEO. This is by necessity a highly confidential process that we are confident will deliver an excellent CEO to take Platina forward with Owendale and the other projects.

I can assure that the company is not being run by a part time management team. We have a dedicated team managing the Owendale project as it progresses through the Definitive Feasibility Study, continuous pilot test, Environmental Impact Study and other regulatory and technical activities. We have deliberately chosen to work with a team of contract staff until we reach a position that requires the establishment of a permanent project organisation.

We will make announcements on the results of each of the studies as we pass a recognisable milestone. The lack of news does not mean that nothing is happening, on the contrary we are focused on delivering value from the projects that we have by working diligently towards our goals.

A comparison of our performance with both Australian Mines and CleanTeQ over the last 3 months shows that we are performing almost identically to Australian Mines and better than CleanTeQ. We have also outperformed Scandium International over the last 12 months by a significant margin.

Yours sincerely,

Chris Hartley
Executive Director"

On 19 Apr 2018, at 9:34 am, ......... wrote:

"Good morning, Dr Hartley,

Myself and family as a holder of pgm(.......), and other shareholders whom express themselves on Hotcopper, are becoming increasingly alarmed at the current share price debacle occurring on the ASX, with apparent mass dumping and a substantial divergence between buyers and sellers. Many of us invested substantial funds and worry at the Board’s lack of action to reverse this slide.

There are also major concerns that piracy of the company is a consideration by others seeking expansion and ownership of an extremely valuable asset that present Directors seem unable to realise, let alone the lack of direction and apparent ignorance of the potential of all minerals held by the company. It seems to many that the company is run by part-time Directors and employees who lack grit and determination to advance the wealth of shareholders, something that is also evidenced by their “lack of skin in the game”.

We were given hope and cheer around two weeks ago. An announcement was promised that appointment of a MD/CEO was “imminent”. I for one am beginning to wonder if you meant “immanent”.

Would you and the Board please listen to what is being said and act on our behalf.

Thanking you"

Expand

That's a good and to the point e-mail laser!
I don't know what insto's are saying about PGM board. I guess they have similarr views.

As for the reply what do you lads with experience in the field make of the use of contractors as opposed to in-house team as per this statement:
"
We have deliberately chosen to work with a team of contract staff until we reach a position that requires the establishment of a permanent project organisation.
"

Sounds like a prudent thing to do.... but is it?

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PGM, page-124

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PGM, page-124

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