4 questions lodged at 2026 Investigator Silver (IVR) virtual EGM
April 21, 2026
Below is the text of the 4 written questions submitted at the 34 minute Investigator Silver (IVR) 10.30am virtual EGM held via Zoom/Vistra on April 21 2026 to approve two tranche placement. Market cap $168m on EGM day. See notice of meeting and voting results with circa 7% against vote. The proxies were not disclosed early. Was the only one of the 5,500 shareholders asking questions.
Q1. Why weren't retail shareholders offered a Share Purchase Plan when we launched the $55 million selective placement at 8.6c in March, particularly given it was priced at such a large discount to the previous close of 12c. Please explain how this treatment of retail shareholders as second class citizens is in the best interests of the company?
Answer: The chair Richard Hillis and CEO Lachlan Wallace delivered the usual bullshit defence about the need for speed, worries about retail overhang and the like. Watch video of exchange via Twitter.
Q2. Why did we have 4 different ticket clippers - Barrenjoey, Cannacord, Moelis and Alpine Capital - sharing the excessive 5% cash fee on this latest placement?
Answer: The chair Richard Hillis said the different brokers broadened the book and was right to point out that the percentage fee is what matters, not the number of brokers. Watch video of exchange via Twitter.
Q3. Is this meeting being recorded and will a copy of the recording be made available on our website for the benefit of the 5,000-plus retail shareholders who didn't tune in live today? If not, doesn't this become a selective briefing for the small number of participants?
Answer: The chair Richard Hillis said shareholders could access the CEO Lachlan Wallace's presentation online. This, of course, is scripted company material not unscripted Q&A. Very disrespectful to retail shareholders aggrieved with how they've been treated. Watch video of exchange via Twitter.
Q4. Why didn't any of the directors participate in the placement to demonstrate their confidence in the company's future and the attractiveness of the investment opportunity?
Answer: The chair Richard Hillis seemed pretty happy to have dodged it with the stock now at 6.7c. Another director said he didn't have the cash at the time. Hmmm. Investors like to to see alignment. Watch video of exchange via Twitter.
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