People have told me they are confident he is working in the best interests of shareholders and this could be true i.e. he wants to get Cascavel ramped up which in turn would mean more royalty payments for cartesian. Completely believable that is the case.
I just wonder why they need the other two reps. The latest one to join the board is Brazilian based. Did he join as they knew the anglo negotiations where re-starting? Is having 50% of the board made up of Cartesian members what shareholders want going into negotiations with Anglo? They are on performance shares as payment so maybe they will push for the best deal.
I would love to know more on the directors loan. Which director(s) exactly was it that put the money up and at what price are the notes converted at? If anyone knows the answer I'd love to know
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