why CYM is a Billion $ company in the making, page-750

In all of the discussions here 1 highly important point needs to be made IMO concerning directors.
Gary Comb is an engineer with over 30 years’ experience in the Australian mining industry, with a strong track record in successfully commissioning and operating base metal mines. He was Chairman of Finders Resources Limited from 2013 until its takeover in 2018.

Gary has bought on market 2.5m shares worth approx $573K at an average of $0.2291/share. Gary and all the other directors including Barry have backed themselves in this.
Show me other small cap companies where directors have bought this many shares on market. Typically small cap directors always gift themselves 10's of millions of free shares exclusively without dipping into their own savings. So the idea was to minimise number of shares traded giving this the best possible chance of price accretion.


I would say without doubt these guys thought there was no way the SP would gravitate back under 20c/share. They are all in a loss or even money right now with Gary in a deficit with -34.5%
Now would be a great time for directors to buy, but are in a blackout period so unable to buy shares now.

I do agree now in hindsight it would have been better to obtain the extra finance required when buying Nifty but I'm thinking that BOD was expecting better terms and a higher SP when the restart study was to be delivered. It's unfortunate that events folded out the way it has but Wayne and Barry have been adamant about debt finance. Who knows Ilwella Pty Ltd may well have Barrys back in all of this as they still hold a lot of shares