Now I understand that circumstances happen outside of his expectations that force a change, but he has never announced a cancellation. His word is strong on the potential positives and bury the negatives.
And to be honest, he is cash raising through the backdoor, giving away half the cobalt asset to a child company. Diluting the shareholders with a degree of separation, I mean how cool would it be if we still owned 26% of EUR instead of 13% for that cash consideration.
Just because he was unable to deliver the promised offtake agreement even when he hired someone to do it he need another way to fund his fat salary and continue to pay his side owned businesses.
Many ways to dilute the shareholder ownership, he is just doing it through paperwork shuffling like any semi competent accountant. It is pretty obvious what he does.
Unless we get an offtake agreement to fund phase 2, there will be a capital raising and indirect dilution. Has to be. Cut the spin and start delivering Tony, we will keep an eye on your fingers in the till.
CFE Price at posting:
7.0¢ Sentiment: Buy Disclosure: Held
