Me and my guys here have around 200 million shares. My Swiss mates have around 100 mill. But happy to add you to the shareholders pack. The more we have in a unified group the more influence we can have on the directors.
Yes, you can say maybe they were badly advised- but that's maybe too simplistic now. Remember almost all other Cobalts (with exception of NZC) have all totally collapsed too -in Oz - in Canada and in UK. They were not all "badly advised" or "badly managed". What happened is the cobalt price crapped out suddenly on them all.
I think the ASX has not helped by applying stricter standards- as usual- after the horse had bolted. kinda Typical. Let things go when everyone is bullish and then clamp down when things get tough.
But yes misteps have been made. And yes they were (and maybe still are) taking way too much compensation in the form of millions of free options and too big salaries and all sorts of consultancy fees.-I and other shareholders are behind the push to stop it.
Yes we should have a shareholders rep on to monitor that the payment of fees and costs is being reduced as we shareholders want- and also to get more news to the market. ( I could do that - as many others have asked- But I'm no metallurgist or Miner to run this company).
Re: Investment banking: Yes one of the problems is Aesir Capital.
When they tidied up this shell and put the project together (before they brought BB on) they put themselves on an exclusive contract to sell the company and to do all the cash raisings. They have a lot of influence on the board. This is typical for small Perth juniors that are not expected to do much. And Aesir did good at first - however as CLA started hitting big stuff then not having a bigger or more professional broker or investment bank has been a bit of a liability. Aesir simply do not have the sufficient international connections or clients or marketing ability - I do not think directors have done nearly enough to find new other other bigger investment banks brokers to support them, IMO partly because Aesir is still very influential amongst them.
CLA Price at posting:
1.8¢ Sentiment: Buy Disclosure: Held
