CKK 15.8% 1.6¢ coretrack limited

the conflict

  1. 908 Posts.
    I have taken the time to read every CKK HC post going back to October 2010 in order to see what really has happened and this is my personal viewpont. First of all, a parting of the ways between WS and the board started when it was decided to terminate the Merredin test at a depth of 1000m. Even though the drill performed well, it was not able to show that it could drill to 3000m which was what the test was meant to prove to the many interested parties that travelled up there to observe. For the drill to have a decent shot at the Oz Geothermal business which is potentially on a large scale in the Cooper Basin where the heat-source is in granite at 3000m+, it needs to prove to the conservative developers that it can do the job to 3000M.From my analysis, the test was stopped due to cash-flow concerns as CKK had only a few months earlier raised a mere $2.5M from a share offer, 75% of which was taken up by Cygnet as the underwriter because of lack of market investor commitment. The $2.5M was never going to be enough to do the complete Merredin test with a safe cash back-up position....IMHO..this is where a fundamental "parting" of the ways started. WS is passionate about Geothermal and I read a post where he was quoted as saying that the GT3000 could drill a 4000M hole for $10M[1/3 the price of competitors]. IMHO...the board, at the time, made the decision that the GT3000 could be a more lucrative money- spinner if it was utilized and focused on O&G and general exploration in Oz....so here we have a "clash" of fundamentals...and a rift which, till today, has not been resolved. In pursuing the utilization of the GT3000 for O&G etc, the board successfully raised a large amount of $ through it's last CR and has continued to work towards CKK being a good revenue earner and a profitable enterprise....It may seem as if I am pro-board etc...well...that isn't so...my Allegiance is to who-ever can deliver a good return for my investment.I send a "big kangaroo star" to who-ever posted the idea that all parties should be locked in a room and not let out until there is a solution that does not include going to WAR[so outdated as a way of doing things..but..some people still persist]...The reality is that ALL parties will be losers[to one degree or another] if this LEGAL battle proceeds....HAVE A WONDROUS WEEKEND O:o)
 
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