I believed we have arrived at Diego Benavides' grand plan. He has convinced the board of directors to cover for him by telling them all they need to do is get to the AGM without saying anything. The reason for the directors' silence is now clear, the moment they speak and report back on the findings of their investigation, they are on-record and that is something they must avoid at all cost.
They say they've found something, they must act.
Thery say they've found nothing, they are lying (and SAP knows it)
So they're trying to limp to the AGM by maintaining absolute silence because the central point of the AGM is, ironically, they don't care really care what happens! If we throw out Diego Benavides, we shareholders get to celebrate for a day or so but then chair Gerardo Perez (who stays as chair whatever happens) gets to choose a new CEO. This is why Martin Mount has been nominated. He is either ignorant (unlikely) or part of the plan, but he'll be offered the CEO's job!, He gets things mining people like, such as a large salary, active mines, project to develop etc). He's more than qualifiedt too, and will bring in the "new broom", that fits with the shareholder desire "get the company moving again". He'll be allowed to pick his team and will surely fire the useless trio as well, which will make him more popular with shareholders.
But he will decide not to do anything about the wholly-owned subsidiaries and leave them be. Therefore while the public company sees a new broom, new team etc, Diego Benavides stays in charge of at least the Minera IRL SA (Corihuarmi), or at worst Felipe and his "golden share" continues to block any further investigation. Before we know it, the whole corrupt show has stayed under wraps and goes away. Benavides keeps the lid on the subsidiaries and is not too concerned about losing his CEO's job, his multimillion dollar corruptioon and fraud have been kept under wraps.
The MIRL board's problem is their fiduciary duty, which they want to ignore until December 10th and the vote cut-off. So what we do is explain to Rio Tinto that their silence makes them complicit in this ongoing. Once they are aware, they cannot refuse to act because once the scenario rolls out as forecast, they won't be able to claim innocence any longer.
All the questions: The hiring of Gabbie/Valdez/Ngatai, the internal audit, their job demotions, the long-term payments to Diego Benavides' friends and family. The reason they say nothing is to make them all go away after the AGM. The whole board is complicit in this deception, but now if we blow the whistle on them with RTZ, the big company must act because once RTZ knows MIRL's plan, they are no longer ignorant. So, tell RTZ about the lapses in fiduciary duty as soon as possible, in the whistleblower report form seen in the post below. We should also contact Canadian authorities, same reasons.
Make Martin Mount aware that it's not too late to save himsdelf from this
Make RTZ aware of the ongoing fraud, silence and dirty tactics
Contact market authorities and, when they see the reality match our forecast, they will have to act as well
All those and a dozen other channels. |
