Have to disagree there Beckham...having followed the stock for...

Have to disagree there Beckham...having followed the stock for years...would have to say its a case of RJ thinking this is his baby. In the past he has actually kept the company afloat by recycling his wages into share purchases (a tick for RJ). Also the audacity of appointing himself to the board and giving himself shares reflects a strong sense of ownership. I think his unwillingness to issue shares in the past and get farmin also reflects his obsession of staying in charge of HIS company. Unsurprisingly, the convertible notes route allows him to stay in charge, although a bigger man would realise he is out of his depth with CBM drilling and should have got in some experts to run the show long ago (and despite it being better for his back pocket). My overall impression is that his identity is firmly wed to being MD and that he likes being in control of the wheeling and dealing of HIS company...he actually seems to like the wheeling and dealing more than drilling itself. Icon has averaged only a drill every 18 months or so these last 5-6 years...but many contract agreements/MOUs/farmins/financing arrangements. Its all reminds me of Johnny Howards unwillingness to retire really.