I think Drake leaving the board is negative but from a different point of view.
New issue we may need to worry about very shortly is what is Drake's motivation to part from the board. Fund Managers are ruthless and immoral. Anthony may have seen enough in court and is happy to part from AVQ board to do what fund managers do best (make money (good one's anyway)). I am not comfortable with what Drake may do next, because If I was Drake I would start buying at market and he is free to do so now given he doesn't sit on the board and there are no rules to follow. AVQ being listed under HK, Drake also doesn't need to disclose intentions of a takeover when he gets close to 28%/30% share ownership. We also know what the potential size of this resource is, if Drake were to make a takeover play he can secure the bargain of the century any minute now and shareholders miss out big time. Drake buying more is not necessarily a good thing.
If all this were to happen, the only thing that can get us the best takeover offer is the current share price to rise so a takeover offer is made on a multiple of the higher share price. At current prices some people wont even get out at break-even.
I have much more to say but this is enough for now and interested to read others views.
My sentiment is confused even though I have selected Buy.
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