Saying that the negativity towards “M” & Co by shareholders is ruining CRL I believe is incorrect. Shareholders voted the deal through. (much to my disgust) The actual problem is that the Mt Margret deal is so bad, that no investor is prepared to risk their coin. So as far as I’m concerned, the share holders that gave the yes vote oxygen are to blame. This deal with Glencore should have been beaten to death on the first vote. CRL could then have focused on a possible plan B and not wasted time and money trying to get it up.
All of this disaster falls squarely on The Great Matty O.
CRL should have never done the deal the way they did with IG6. Possible alternate sale configurations could have alleviated the suspension from the market. Like… If it was done with Less shares and a cash component. Or. Less shares and a percentage deal with Springdale. Or. Bought out CRL with some form of share swap. Say 10 CRL for 1 IG6 + 1option share. (10 x 2c for 1 x 20c + option) Or. Something similar.
Was the Great Matty when doing the IG6 deal working in our favour or was he dumb struck by the board position that was on offer.
So for all you bagging us, Just remember the share holders did vote yes. Matty can’t get this to work. So bag Matty not me. (Just my opinion.)
CRL Price at posting:
2.0¢ Sentiment: Sell Disclosure: Held
