I see they have eleveted Ken Gaunt's position. 10 mill shares to...

I see they have eleveted Ken Gaunt's position. 10 mill shares to be issued instead of a salary for his services....says alot for his abilities....$2 mill for his skills!!!....but also says alot about his view of the future of CUS....not often you see an exec sacrifice salary for shares..

As for Bell's report, my inclination is to believe that they want to flush out any non sticky shareholders ahead of the move up. Clearly it makes no sense for them to underwrite $112 mill of placement and then three months later put out a report that appears to undersell the stock. BUT leaves them room to increase their price target as and when the stock starts to run.
Please refer to Writer's earlier comments in which he muses the same point but in relation to Baker's last slip of the tongue.