With the announcement yesterday that fellow vanadium project...

With the announcement yesterday that fellow vanadium project proponent AVL's Managing Director had stood down for reason unknown, it really highlights the importance of directors and management aligning their interests with shareholders by having skin in the game.

In my time as an investor since buying my first shares at the age of 16 (being issued a paper share certificate), the most important lesson that I have learnt is that the MOST successful companies have their leaders interests aligned with shareholders by putting in their own hard earned $$$.

Vince Algar of AVL like the former MD of Tivan didn't have his own $$ invested (he did once but latter sold out with usual paying a tax bill excuse). They were both at one stage well regarded but continual delays to their projects lead them to being accused of being lifestyle directors milking their shareholders each year with a cap raise to fund their salary and pet projects.

On the other hand my most successful investments have had management with significant skin in the game, participate in CR's and buy on market, think PLS, NST, FMG.

I'm very happy to see Grant Wilson's position in the Top 20 shareholder report, remuneration package (which a significant proportion is well out of the money options) and these continual buys on market.