Gougoodthing Palmer may only have 5 percent now but that is not the point! My understanding is that he was/is prepared to put his own funds up to finance our further drilling requirements .I.e. No further dilution of our shares thru CRs! This has been his track record elsewhere!
Now if you are going to put up substantial funds for capital works into a company that you have a significant (read largest) shareholding would you not want a decent representation on the Board spending your funds???
Get the difference! I doubt u will but I hope u will!!
Don't forget also CTP is a high risk company and as such needs hands on management by those with the biggest stake in the pie. You can hardly say the current Board has much at stake compared to Palmer!
I like CB and other long term holders just want the best result for our long term investment.
A Board that just scrapes in using millions of Proxy Votes with little collective dollars in the company needs to be kept on their toes and that is exactly what CB and CP are doing!
Having said that roll on July 19 when hopefully we can get a closure.
Cheers Don
CTP Price at posting:
52.5¢ Sentiment: Buy Disclosure: Held
