Wasnt CTS shareholders taken for a ride by Richard Napier who also took $350k pa while in office? Wasnt he gone in Jul 2008 along went the whole team? And the new management basically took up rotten apples & had to try to turn it into golden goose. CTS used to be pumped up as one of the uranium hopefuls when uranium price went crazy but turned out uneconomical amount of resources, new management came in, scrapped the uranium & has finally found a project to be back doored into RMR earlier this year. They havnt shown what they can do to RMR as the exploration is yet to start but at least Michael Drew has shown some decency by only taking $70k cash as of 2009. For xxx's sake, im 27 and I get paid better than that (albeit no stock/option compensation to me).
Are you going to blame Obama for the damage of GFC when it happened while Bush was in office? To turn around a rotten apple is certainly not an easy task, the mighty powerhouse USA pumped trillions of cash into the economy and it's still sitting in a xxxxhole 3 years on. No doubt this company itself is an old dog, but I think the company deserves to be given an opportunity here to at least see what they can do from the scratch.
It is a good area with GGG exploring nearby. GGG fully diluted MC at 60c is $250m and looks to be rising further after some consolidation. RMR fully diluted MC is 20m.
GGG went up 70% on news Greenland is finally giving greenlight. RMR will commence drilling perhaps Oct?
REE resources are potentially becoming the talk of the century with its future strategic position, China controlling 90% of it and still trying to control more supply. The mighty US, Canada & Europe will just sit & watch the REE resources on their little neighbour island being exposed to Chinese interest again? Not that I mind it from a perspective of a shareholder, id love to see a competition. Play to win!
Anyway agree that they have to do a good job to turn around the confidence and I certainly hope they do.
RMR Price at posting:
3.4¢ Sentiment: Buy Disclosure: Held