I don't have a problem with Gavin, he is a non executive director who was on the board to oversee the interests of Provident and to further the project, of which he, and the other members of the board have done a fine job of. He is now there to oversee the interests of EFDL which is the major shareholder.
Major shareholders of every company have representation on the board of directors so why is this any different ?
Why is Gordon Galt on the board ?
If Gavin's position unduly influences the likes of Taurus and others to sell at 23cents then more fool them.
EFDL want a bigger slice, so what.......I do too !
By end 2018 FND could be debt free, sitting on a 10 year plus resource with a copper price approaching US$4.00 per pound ( if you believe what you read ). As sure as night follows day someone will have a crack at control of FND....EFDL is only the first.
I cannot see them succeeding at 23cents and at the back of my mind I think they may have blown a great opportunity. An offer of 30 cents, whilst still cheap may well have won many holders over.
Recent share activity indicates someone is capping at 24.5 but the buy side keeps building.....can't go on forever. Have other parties re-evaluated FND ? ....... if so then thanks to EFDL for drawing attention to us.
BTW....... I don't know Gavin, have never met him but I am aware he is a staunch supporter of the Perth Football Club and the WAFL competition. As a Claremont Football Cub member I appreciate the contribution these blokes make and this automatically qualifies him as a good bloke in my book...... he will not however be getting his hands on my shares any time soon.
FND Price at posting:
24.5¢ Sentiment: Buy Disclosure: Held
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