I too like the fact the Nanne has exercised his options as well as taking up his entitlement in the recent rights issue. I also like the fact that others on the board have done likewise.
Personally I believe the 'merger collapse' is/was a blessing in disguise & this will now allow CKK to achieve a much higher value for the technology going forward. Of course the CLRS is still somewhat of an unknown however I believe that once the first contract signing is announced to market & the CLRS can be put to work it will ultimately prove its capabilities ;)
The GT3000 rig is of course the second bow in CKK's quiver and I can tell you it's my firm understanding that the legal action launched against WS by Terratherm has since been dropped. No surprise there considering the lack of gounds to sue & the contradiction of terms within the writ. One could call it 'sour grapes' ;)
In summary I like the story, I like the quality of management & I like the two potential revenue streams the company can now rely on for the longer term.
I read some recent criticism of management in terms of the delays in announcing the initial CLRS contract signing to market, my answer to that criticism is obviously some don't have the patience to sit & wait OR understanding of what's involved in the reaching an agreement in terms of the legalities, lawyers operate at their own pace (charge by the hour remember ;) AND it was highly unlikely if not entirely unlikely that any announcement was going to be released during the recent cap raising.
CKK have cleverly operated on a very tight budget during the R & D phase since listing & only now have they moved onto 'the terrace' along with the O & G industry heavy weights. I wouldn't invisage management supporting a move like this unless success is a likely outcome.
Either technology in its own right is potentially company making, imagine if/when both are successful.
nistrams
CKK Price at posting:
31.0¢ Sentiment: LT Buy Disclosure: Held
