Ann: Manuka Debt Facility Refinancing and Silver Production updat, page-28

thats an interesting take

out of my work experience I wouldnt say theres a reliable benefit from high concentrated funder/founder holdings - though its a real case by case situation

often as not it was obvious to me high retained holdings by founders led to a double bluff game of insider sp action and actually being comfortable with low for longer sp and driving it down so they could accumulate even more control

whereas generally big public floats put the carrot before mgt to drive the sp

but there are undoubtedly times when having uhnw high % founders in place gives 100% certainty of ongoing funding capacity + project viability acumen. those guys - the ones with repeat excellence in identifying and creating viable projects - those are rare as hens teeth and I agree they are ones I would often prefer to back