IPT CRUX INVESTOR PODCAST, page-20

Matt Gordon at crux investors is the only interviews worth watching, he gets stuck in. Quite frankly the majority of MDs won't dare go on it. Therefore I was surprised Mike did, and he not only survived but did very well except for explaining the lack of skin in the game at the end.

Agreed, its sink or swim with Crux, they are building that reputation of allowing their listeners to understand the bones of an announcement or the Company in this case. I was bit the same with regard to the lack of skin, however there was a genuineness in the MDs explanation regarding options and that he has considered walking away from IPT but remains loyal in his actions for shareholders. Perhaps if Mike was not grilled as much, he would have not spoken about the possibility of walking away from IPT and getting a better tenement for himself with a higher shareholding (something I am sure he could do, whether he would be more successful would be the great unknown in such a move). In hindsight though, that statement was the human element of the interview that we could all possibly relate to and for me confirmed that the company is doing their best on the management side. The MD was most comfortable talking about his tech and together with a bit of luck may be what the Company needs to zone in on that alluding high grade target.