Mark Lynch called me yesterday. It was not inspirational.
We spoke for 20 minutes. He compared CTO with Bendigo and Ballarat i.e each of these had spent 500 million and were gone whilst CTO has spent "only" 140 million.
Also thought the stuff on board was "uninformed rhetoric" and I reminded him that I was on that same board and did not share his view. Also mentioned that there were hundreds of people on the CTO thread.
When we got to the specifics:
he had no answer for the deep hole, would follow that up
reminded me he had a big stake in the company
"we" have a great deposit (I told him shareholders knew that)
he is confident CTO will meet the target at end of year
he believes the shareprice is way too low and doesn't understand why
(as I said, not very inspirational)
Taking over Gateway he said was a good opportunity that presented itself, like CTO they were frugal and went ahead slowly but steadily
at the end I reminded him that shareholders always get screwed as he also mentioned OZL
Finally, having been bypassed in BLG and AAM where directors and other preferred people got SPP 20-30 percent under prevailing shareprices I must say that CTO went to it's own for capital and I made a little money out of that.
Add to My Watchlist
What is My Watchlist?
