I've put in more money into this company via cap raises in the last 6 years than Scott has. That's fact as every change of director holding has to be announced..
How did Scott get his 77M shares?? Easy from both 'performance rights' and being paid the shares as 'vendor' of the project..
Since then he has been paid well by shareholders like me putting money into the company, yet has not deemed to keep his percentage of the company stable, unless via bonuses, options or performance shares, except for one small buy on market in 2018.
What do the instos that dumped see?? They see a company where the main man cannot be bothered to put more of his earnings into the company. Scott has also been in charge of some terrible cap raises, which he didn't bother to partake!!
How does that make him the 'best' person to lead the company? He might be the best person to liaise with the Zimbabwean Government, but the cap raises have been terrible in timing, Likewise the decision to go deeper when they had a bird in the hand with Mk2 in Upper Angwa, but decided to go deeper, leading to the need to do the sidetrack, draining the company of funds, that lead to the terrible cap raises when desperate.. The 'best' leader of a company does not do that type of thing.
Don't you understand that failure to partake in the cap raises sends messages to those very institutions, made up of people just like you and me. They see the same things we do. Everyone that has been involved in the market for decades is well aware of many dodgy directors in the junior end of the market, selling hype, so of course get jumpy and edgy when something doesn't look right.
This is the reason the SP is in the toilet. What faith do the instos have in management when they see management isn't putting more of their own money into the company? Of course they are going to jump and take a small profit at this end of the market. It's not just the current cap raise, it's the prior one, and the one before that...
Sorry, I call a spade a spade and wont be a fanboy for any director of any company I'm invested in. Directors earn respect for making the correct decisions. The share price is in the toilet because of a lot of Scott's decisions and trying to fob off the dumping of shares by institutions as being anyone else's fault other than the leader of this company yesterday was just amateurish..
IVZ Price at posting:
8.0¢ Sentiment: Buy Disclosure: Held
