LOL, the fact is Crutchfield stumped up $1.3M after becoming non...

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Eddythedog

1,380 Posts.

1861

05/04/23

13:00

Post #: 67147902
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Originally posted by 2ic: ↑

Old news as some pointed out, hasn;t stopped the bulls drinking the Koolaid with the thirst of a thumping headache...

The takeaway from this release is that Dean Tuck didn;t dig into his pocket for a single share! Back on Feb 1st, posters were all over Dean's confidence and what he knew made him tip in more money in the 10c CR, when it turned out he didn't. The BOD's "$1.4M take up of the CR" turned out to be >90% the new guy Crutchfield, who already had 65M shares, and the old guy Chapman who added 1M to his 316M 0.3% to an average price of FA. Chapman picked up a similar amount of freebies in the cycnical LT MRE incentive plan hastily arranged shortly before Yin MRE was relesaed and the performance rights vested (which is actually the shortest term of any incentive plan I've ever seen on the ASX )

So all the bulls that were banging on about Dean adding to his approx 42M free shares, oppies and performance rights... how about a mea culpa because it turned out he and most of the board stood back form that bullet? Turned out although he didn't know the difference between Bresnahan and Wolverine sample chemistry, or the 40% TREO con is not world leading, or that ILU and LYC RE-cracking plants looked full, he knew when to keep his hands in his pockets.

One can argue that the BOD participating in the CR was an effort to convince the brokers to go all in at 10c also. Or that Crutchfield was the only true believer that thought 10c was a bargain. Bottom line imo, basing an investment decision on management buying some shares that hardly changes their cost base average, is as misplaced and dangerous as basing it on management's confidence and enthusiasm the company is always under-valued and the next big thing. It's lazy and usually meaningless. Directors are as apt to fall in blind love with their own projects as any investor, blinkered as they are in their own echo chamber of bullish enthusiasm and confirmation bias...

Be better, dig a little deeper... end essay

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LOL, the fact is Crutchfield stumped up $1.3M after becoming non ex director on 14/9/22.
He paid 10cents per share..... hardly FA.

As for the 'old guy', Paul is instrumental for Kimberly project..... the reason most LTH's are here.
To investors.... skin in the game means a lot.... something you as a non holder obviously don't understand.

DRE Price at posting: 6.4¢ Sentiment: Buy Disclosure: Held
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