No mention whatsoever in the report that he intends to dilute us out of Mehdiabad by 80% at least. Jordinson just repaeats everything we knew about Mehdiabad, but he can't admit he is depriving us of the bulk of this asset.
Acting outside his circle of competence Acting perversely Acting irrationally Being economical with the truth Approving vanity name changes Approving vanity share consolidations A poor record of shareholder value creation at CRC Using smooth background music to deny dilution
Jordinson should be a project manager, not an MD, IMO.
The Hold recommendation is only in the hope he moves on.
UCL Price at posting:
16.0¢ Sentiment: Hold Disclosure: Held
