CTP

2.04%

4.8¢ central petroleum limited

BOARD / MANAGEMENT CHANGE STRATEGIES, page-10

First 10 Last

Share
Profile

Follow
aabbaadd

1,120 Posts.

161

15/06/24

16:33

Post #: 74331952
Share

Originally posted by aabbaadd: ↑

Posters here seem to agree CTP has significant exploration / development potential. Dissatisfaction seems to be primarily directed at BOARD / CEO. These matters have been commented on, since Macquaries failed take-over attempt, without resolution.

SURPRISE is associated with previous CEOs and BOARD members. Current CEO is associated with financial success of buying producing fields. Since current CEO appointment company reporting has been lifted to and maintained at new professional level. He is associated with AU$12.5 million profit on RANGE sale. Drilling disappointments have occurred on his watch. It is a mixed history.

BOARD appointment Mick McCormack was seen as positive at time it made. What difference he has made since is unclear. Strategic Review has been done in secret and outcomes initiated without shareholder involvement or subsequent direct discussion. BOARD refocussed strategy and presented it as fait-accompli.

Troy Harry appointment to BOARD was done by CHAIR without shareholders knowledge and subsequent detailed explanation. Troy Harry's productiveness on BOARD is unclear. He now acts for others with benefit of comprehensive access to CTP information not available to majority of other shareholders. At time of Macquarie failed take-over attempt he appeared opportunistically acting hostile to other shareholders intending to make make quick profit and exit completely. He became trapped with little knowlege of CTP business. His holding and knowledge of CTP matters have since increased. Would he again act hostile to other shareholders in their attempts to initiate change ?

Agreement to act among shareholders to drive BOARD and MANAGEMENT changes would only succeed where goals of change are clear and articulated. Changes would have to be directed at eliminating those seen as unproductive / unresponsive and new appointments would have to be of people with demonstrated abilities and achievements consistent with producing shareholder aims.

CTP exploration / development prospects were reviewed, interpreted, articulated, ranked for development by its short-term GEOLOGIST some time ago. It was a richly informing useful process for non-BOARD / MANAGEMENT shareholders. That level of analytical informing has not been maitained.

Financial management has remained prudent with actions taken managed within financial capacity including smart management of borrowings. New share issues have been avoided with existing holdings being non-diluted - that is different behaviour to previous BOARD and CEO. BOARD's recent decision to focus on dividend payments to shareholders marks significant change of attitude - change following first salary strike by shareholders,

How may more substantial changes be wrought by shareholders ?

Who is to go - why ?

Who will replace them ? Where will they be found ? What knowledge, skills, initiative must be demonstrated ?

Why would talented prospective DIRECTORS join BOARD ?

Would non-dilution continue ?

Who / how would efforts to initiate change be organised ?

Now is time to prepare to use AGM to bring about change.

Expand

Free cash flow is available for dividends now. Current intention to retain all cash is unacceptable. Move now to motivate Board before AGM.

CTP Price at posting: 5.6¢ Sentiment: None Disclosure: Held
1 Upvote

0 Great analysis

Reply

Top Stories

ENV

Enova Mining unveils "high-grade" REE drill hits at Coda North, Brazil

MLS

Metals Australia kicking off plant study at Lac Carheil; Canadian tariff tailwind potential

AZY

Antipa divests its Citadel interest to JV partner Rio for A$17M, refocuses on Minyari Dome

ASN

Utah authorities sign off on Anson's lithium extraction plans at Green River

MKG

Mako sniffs gold at 170 g/t at Cote d’Ivoire's Napié play

Dale Gillham's weekly wrap: US fracking support boosts outlook for Australian gas stocks

VUL

Vulcan appoints investment bank and M&A veteran to board

MM8

Medallion Metals kicking off 15,000m drill run at Ravensthorpe gold play

NAM

Olam Agri raises Namoi takeover offer to 75 cents a share and receives shareholder backing

Week 37 Wrap: HotCopper likes Cuban oil; markets shrug debate off for Putin; firebrand quant says social media a market threat

There are more pages in this discussion • 47 more messages in this thread...

First 10 Last

Add CTP (ASX) to my watchlist

(20min delay)
Last 4.8¢		Change -0.001(2.04%)		Mkt cap ! $35.52M

Open	High	Low	Value	Volume
4.9¢	4.9¢	4.8¢	$47.28K	967.1K

Buyers (Bids)

No.	Vol.	Price($)
1	517610	4.8¢

Sellers (Offers)

Price($)	Vol.	No.
5.0¢	150000	1

View Market Depth

No.	Vol.	Price($)
1	517610	0.048
1	100000	0.046
1	150000	0.045
1	50000	0.044
1	175000	0.042

Price($)	Vol.	No.
0.050	150000	1
0.054	96554	1
0.056	19995	1
0.058	172431	1
0.060	121300	3

Last trade - 16.10pm 13/09/2024 (20 minute delay)

CTP (ASX) Chart

BOARD / MANAGEMENT CHANGE STRATEGIES, page-10

Enova Mining unveils "high-grade" REE drill hits at Coda North, Brazil

Metals Australia kicking off plant study at Lac Carheil; Canadian tariff tailwind potential

Antipa divests its Citadel interest to JV partner Rio for A$17M, refocuses on Minyari Dome

Utah authorities sign off on Anson's lithium extraction plans at Green River

Mako sniffs gold at 170 g/t at Cote d’Ivoire's Napié play

Dale Gillham's weekly wrap: US fracking support boosts outlook for Australian gas stocks

Vulcan appoints investment bank and M&A veteran to board

Medallion Metals kicking off 15,000m drill run at Ravensthorpe gold play

Olam Agri raises Namoi takeover offer to 75 cents a share and receives shareholder backing

Week 37 Wrap: HotCopper likes Cuban oil; markets shrug debate off for Putin; firebrand quant says social media a market threat

Featured News

Buyers (Bids)

Sellers (Offers)

Featured News

BOARD / MANAGEMENT CHANGE STRATEGIES, page-10

Top Stories

Enova Mining unveils "high-grade" REE drill hits at Coda North, Brazil

Metals Australia kicking off plant study at Lac Carheil; Canadian tariff tailwind potential

Antipa divests its Citadel interest to JV partner Rio for A$17M, refocuses on Minyari Dome

Utah authorities sign off on Anson's lithium extraction plans at Green River

Mako sniffs gold at 170 g/t at Cote d’Ivoire's Napié play

Dale Gillham's weekly wrap: US fracking support boosts outlook for Australian gas stocks

Vulcan appoints investment bank and M&A veteran to board

Medallion Metals kicking off 15,000m drill run at Ravensthorpe gold play

Olam Agri raises Namoi takeover offer to 75 cents a share and receives shareholder backing

Week 37 Wrap: HotCopper likes Cuban oil; markets shrug debate off for Putin; firebrand quant says social media a market threat

Featured News

Buyers (Bids)

Sellers (Offers)

Featured News