The story is simple. ASEAN buys a small position in a relatively good value uranium play, it continues to fall, the valuation gap grows and they continue to buy.
They see how to turn the situation around, they approach the CEO, the guy talks a good story but reality is, the guy is overpaid relative to productivity, with no independent oversight and he has a huge ego.
So what should have been one board seat with oversight is now total change. It is the CEO's fault he doesnt buy any stock and the board's shareholding dropped from 20% to 4% and new shareholders come in buying over 35%.
Either the board gets real and allows ASEAN the oversight required to ensure all shareholders are protected for the coming cycle or they will be moved aside.
ASEAN could have just quietly absorbed Lind's selling without supporting the stock price but they prefer to work with shareholders to facilitate a good outcome for all. ASEAN will not want to burn their reputation or credibility as Aura is only one of a number of investments in a growing fund.
Conversely, Lind have created a reputation as a funder of last resort. Everyone can google this, yet it is the best Reeve could come up with.
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