What it does mean is that I've heard it all, when it comes to...

What it does mean is that I've heard it all, when it comes to defending management performance. Appeal to (alleged) authority is a common theme.

Completely reasonable for you to disagree with my position, but I would remind you that the Australian investment community is similarly not impressed with the IPO - ignore that warning at your peril. The idea that something is broken with the Australian market, and that the Canadian market will be a game changer, is questionable. It's a risky play, which is ok, but if the IPO proceeds and float price stagnates for the next 18 months - MCT holders are basically back to where they started (assuming ~6c based on current MC), and directors are enriched to the tune of $1.6m. Rewarding directors for breaking even is setting the bar too low IMO.