Kangarumees, you know the fellow so are more qualified to make a personal judgement on RC than others such as myself. However, conservatives like me take an awful lot of convincing when an individual is trying to usurp the management of a company against the vote of all other board members.
RC made a big mistake by quitting instead of negotiating or waiting for another opportunity on Echuca. We have never been told that farmin on Echuca was any kind of condition for Crux, it has always been a background issue until now - then all of a sudden it's considered a necessity by RC - and he's prepared to quit over it - and the farmin party want a 10% option over Nexus plus severe penalty on "key man" contingency for RC.
Sorry, it just doesn't cut it with conditions like this, regardless of the personal qualities and stated motives of RC. It appears to be an expedient grab for a potentially great wealth creating asset but for which there is no necessity to make an urgent decision on and really just detracts from the main game at the moment which is finalising the Crux deal.
Oldies such as myself are often inherently suspicious of people who claim what seem to be altruistic motives when there is a pile of cash waiting for them if they get their way. We've seen it all before and been disappointed (and worse) many many times!
The current board say they are close to finalising a deal on Crux. They should have their chance. If they don't achieve a deal by Christmas or maybe a bit earlier (which has been their stated goal for quite a while now) then maybe RC can get support to come in and fix it if he is still inclined to.
Interesting times!
NXS Price at posting:
26.5¢ Sentiment: Hold Disclosure: Held
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