david harley must go

As a holder in Gunson since their listing, I give credit to David Harley for trying hard to get full value for GUN shareholders. However, he adopted a very high risk approach of insisting that Gunson retained majority control of Coburn. In the process, with innumerable delays, Chinese "tyre kickers" were told to "p..o.." & other potential investors lost interest, leaving just one major, Posco. Along the way Gunson missed a string of deadlines, the zircon price rocketed then plummeted, and the market lost confidence, such that Harley couldn't even fill a placement at 6.5c, 1/rd the price of the previous 20c placement. A stock with analysts' valuations of 70c is now trading at 3c.

Tilbrook is right, the market will not have any confidence in Gunson whilst David Harley remains MD. That's the business reality, there's no place for sentiment. David Harley has had many more than 3 strikes, he must go, sadly. Harley should do the just and honourable thing and resign. If he doesn't, shareholders have no option but to sack him. If the Board can't see that (it appears from their statement they can't), we should sack the Board as well, after all they should wear the can.

Gunson has become a sitting duck for a low ball takeover, surely Harley can see that? He remains a significant shareholder, its in his own interests for the share price to be revived. Harley should resign before inevitably he is pushed, and probably the Board too.