AXG - Antipodes Gold [formerly GEL - Glass Earth]

[elZorro]

All of the proposed motions at the AGM were passed, which means Antipodes Gold will provide a back-door listing on the TSX-V for CRP, while at the value end of the deal Oceana Gold will pay the old Glass Earth bills, and obtain 100% of what's left of the permits. These are under part of Waihi township, and to the Northeast of Waihi, up in the hills at and around WKP.

I also saw this snippet in the management information circular sent out before the AGM.

ANTIPODES GOLDLIMITED

NOTICE OF ANNUAL GENERAL AND SPECIAL MEETING OF SHAREHOLDERS
To be held on November 24, 2015
Management Information Circular
(Dated October 23, 2015)

The Company had employment contracts with Messrs. Henderson and Liddle but these have been cancelled by mutual agreement and replaced with a time based contractor rate of NZ$700/day (C$600/day). Mr. Rabone is also on a time based contractor rate of NZ$800/day (C$680/day) since his appointment as CEO in February 2014. Other management services for the Company are not, to any material degree, performed by persons other than the senior officers of the Company. No pension plan or retirement benefit plans have been instituted by the Company and none are proposed at this time.

Of course at this juncture, the three people concerned are the most likely to know what's going on with the company business. But they also helped put the company in a very bad position, and lost a whole lot of shareholder cash. Some of this capital was apparently lost through a minority of untrained or unsupported staff who were being paid only around $25 an hour. Even then the staff did a lot better out of the deal than the shareholders, who actually paid good money to watch all of this unfold. Our return =NIL.