Why am I selling? I was in on the basis of a turn around of a project which has the right rocks, a treatment plant and had learned a bit on how to manage production to get payable grades to the mill. I am not in to have Singapore scrip in a conglom where recovery in this project feeds others. I am (nearly) out of CGT not wanting to support management whose best idea is to sell away the upside and protect their ongoing managerial positions and to capitalise on recent issues of discounted performance rights. I am out where management's best idea is to give away control in a scrip based partial takeover of an operation that is in recovery mode for a paltry premium. Clearly this management have a better understanding of how to construct a deal than to run mine. I am out now to take the certainty of market price and put that $ where it may grow in a business managed by directors who have a growth focus than to leave it under the stewardship of management I have lost confidence in to make decisions in SH interests
CGT Price at posting:
14.5¢ Sentiment: Sell Disclosure: Held
