i have never held shares in cxy, although have often considered buying and have followed the progress of not only this company but also cnx & lnc with interest.
it is my opinion that although len walker may have great technical expertise he has failed in the corporate management of this company. what i have noted, time and time again is a pattern of heavily discounted capital raisings just as the company appeared to be hitting its straps. i think that is the single most poignant factor determining my decision NOT to buy shares in this company.....i questioned just whose pockets were being lined....certainly not existing shareholders.
the contaminated water debacle was probably out of len walkers hands, and he probably has handled that as best he can....but imho what this company needs now is for the company to announce a 1 for 10 or even 1 for 15 share consolidation, for len walker to stand down as CEO and appoint somebody with the corporate smarts. by all means keep len walker on as a technical director but this company badly need a proper CEO.
just my opinion.
Add to My Watchlist
What is My Watchlist?