I don't see DNI taking this seriously at all. IMO they are misrepresenting the seriousness of the current situation to their shareholders. If the statements made by Randal are proven correct the ramifications for DNI and the board will be a disaster for them. I can't see the shareholders of DNI supporting the board long after if these are correct. No matter how loyal they are now.
Shareholders of DNI clearly are falling for the tactics of the board judging by their rebound of their stock. Clearly they must believe that Randal is telling porky pies. Imagine the consequence for Randal if he was lying ! IMO he would not take that risk ! He also owns so much of the company. He wants this to succeed!
His level of experience in the drilling industry is unbeleivable ! I know people who worked with Randal years ago and provided me with great reassurance of how innovative and experienced he is with drilling.
The article below is a couple of years old. It is an interesting read. It gave me confidence when I first invested in CGM and even more confidence when DNI claim the project was mismanaged.
What I took from it was that during twiggys massive exploration where they were expanding at a rapid rate spending more money in the multiples per quarter than any other company Randal was at the forefront of the drilling campaign ! Why ?! Because he is an innovative, experienced expert.
After he won the ballet in the article it mentions
" had his drills immediately removed from Anaconda's operations. But Swick would get the last laugh. Unable to match Swick's drilling results and contract prices, Anaconda would later get him back on site."
In short Randal was able to gain a tenement that twiggy was so desperate for. He was fired and drill rigs removed, but what next ? Re hired ! Yes after that he was re hired due to Anaconda being "Unable to match Swick's drilling results and contract prices" .
For those who are unaware he was also a founding director of Swick mining services (ASX:SWK). A company that has "a reputation for pioneering innovative rig designs that deliver improvements in productivity, safety, versatility and value."
This is all IMO. Make your own judgements
Ive had numerious call with Randal the last 2 weeks and every one is pleasant. call Randal if you have questions for him he really enjoys talking to his shareholders. I've never had a director in my time investing so commited to returning calls, emails and questions.
I've never really posted on HC before, but thought it was about time.
I could go on and on, but for now that's it from me.
Good luck to everyone. Both cougar and DNI.
This is all just my opinion take it with a grain of salt. You might find it helpful you might not.
CGM Price at posting:
0.7¢ Sentiment: Buy Disclosure: Held
