JH was the guy with the technical knowledge that lead this company, he was the guy responsible for day to day operations. The board is there to provide business oversight and assist in decision making it takes its lead and usually endorses the direction set by the CEO and technical people who provide recommendations, that is what you pay them for. To say the board who supposedly meets every couple of months is going to dictate to JH how and what to do seems absolutely delusional to me. JH has been guiding this ship and the board has been supporting him as a board should. Now we have a falling out and all of a sudden its the boards fault. I dont buy it. That is not to say I believe the board was not at fault, they probably should have been asking more pointed questions of JH long before this. Things like why do we have far more overseas trips than drills.
Its time to concentrate on the future I would like to know where CTP is going. What is the plan other than split the company up, which I must say I dont understand. The whole company is valued under $100m so it is not expensive, splitting it up hopes to get us what. How are both companies going to find the funds to survive and thrive. If the whole is worth less then $100m how much would floating our coal assets off be worth? What will share holders get for that. Having lost heaps on this I moved into options, which I see even less chance of being in the money in 2014 if they float off a chunk of the company.
What are the plans for drilling mt Kitty and Surprise.
CTP Price at posting:
43.0¢ Sentiment: Hold Disclosure: Held
