Ann: Crusader Raises $8.5m in Oversubscribed Placement-CAS.AX, page-13

Gidday GZ,

You say,

Re " CAS is becoming a traded stock by opportunists."
lol. Do you blame them? Man has to make a dollar somehow.

Absolutely not. It's like minimizing your tax. You're an idiot if you don't take the opportunity to minimize your tax. And I agree with you, business is business, if you can take advantage of CAS' trading style, you're more than entitled to do so. No one owes sympathy to CAS shareholders, just as I don't have any moral obligation to not minimize my tax.

It is CAS MANAGEMENT who is steering the CAS shareholder ship.

If they make decisions that stop upward momentum in the share price, the buck must stop with them.

"We reap what we sow"

In the second last capital raising, from memory the price was gaining in early April from 11 cents to around 16 cents (memory). Management announced a placement @11 cents. Patersons' clients sold onto the market pushing the share price down. To make it worse, management announced price sensitive information after the SPP.

Come September, the share price rose from 13 cents and once again had gained momentum to 17 cents, holding around 16.5 cents into the trading halt on September the 26th. As soon as the stock traded again on the market it traded at 13.5 cents and currently sits at 13 cents. Momentum in the share has been lost again.

Now this is the important thing and is essentially my whole point -- Because of these decisions regarding timing and price with last couple of SPP, potential long term investors who wished to hold the story have sold out and have now gone elsewhere. In there place we now have DAY TRADERS.

It's this simple: A day traded stock and a higher share price in the small cap space -- is an oxymoron.

There must be a better way.

Rather than being a Monday expert, I'll try and offer a positive option.

I don't mean to cross promote, but I need to offer an example.

Management, have a look at the recent deal done between CZI and OZ Minerals.

CZI was/is in the same position as CAS. No money but wished to get a mine into production. In my opinion they have done the smart thing: rather than dilute their shareholders out of existence with SPP after SPP. They choose to give 70% of the project away to OZ, in exchange OZ will put in $35M to get the project chose to production. Not a bad deal considering the market cap of CZI was $9M at the time of the deal. Could you image the dilution in CZI if they tried to raise $35M themselves? it just wouldn't have happened. So perhaps for CAS, rather than SPP, after SPP, a farm out deal is needed with a producer to stop these current events. Get a deal done and get the producer to put in the funds needed and STOP these silly SPPs @11 cents and 13 cents! Because the only people making money out of CAS at the moment is Paterson clients. The problem is, this should've been discussed with potential partners years ago. If you have been and you're discussing terms, please reconsider terms to get a deal done. Your circumstances have changed. You were banking on Posse to pay for this and that. Your problem is Posse is no longer paying for this and this. You cannot therefore continue with capital raisings at 11 or 13 cents, shareholders will become feed up with it, if most aren't already. There is little to no good will left in CAS. It has almost completely evaporated over the last two years.

As I mentioned earlier, it's management that's steering this ship.