Ann: Opuwo Project Update and Board Changes, page-123

I read all the posts in this thread and I make the following observations:


BB is not responsible for the low Cobalt prices. This seems maybe to be somewhat engineered by perhaps China and Glencore and others.

The board has faced the hard fact that timelines have to be extended and the company has entered survival mode.  

BB has a large shareholding and he has announced he is stepping down to preserve cash until the storm passes

Hard decisions have been made and all the whingeing does not alter the fact that this had to be done.

CLA is not unique in the downturn. All boats rise and fall on the same tide (Clearly Cobalt is needed and the price will rise again)

Many non-holders seem to feel the need to tell that they 'told us so'.  (If you think the ship is sinking then why not just rat off.?)

Character assassinating prominent holders because they believe in the company is really spiteful and hiding behind anonymity

Nobody has lost any money at all unless they sell their shares. (How many losers will there be on Monday?)

I am disappointed but pragmatic. Reading all the 'for's' and 'against's' then my judgement is to hunker down and hold my position.


I am looking forward to seeing the back of the non holders whose input here seems to me to be just to sow spiteful comment with no skin in the game themselves. Crucifying the board for making a hard decision shows the bad side of human nature. Blaming BB personally is shameful.  Don't let the door hit you in the backside on the way out

Common sense will prevail and I know there are announcements in the pipeline. If  I have good news and bad news to deliver to someone then I would definitely want to deliver the bad news first. Especially if the 'someone' is a whingeing shareholder with little tolerance for risk. (it is a spec stock - did you really expect low risk?)  Expect some announcements soon in my opinion.
I might even buy some more CLA shares after Monday