RE: RE new CEO25 Jun 2022 14:45
Aug/Eric - totally agree with you the sp. Diabolical has been Kurt's communication. What I disagree with in general is the notion that Kurt has Shareholders best interests at heart. Kurt talks a good game about environmentalism and shareholders, but his actions have not matched his rhetoric for a CEO with investors at its heart. It is easy to say we want to create the most green whatever, but the simple fact is that's the easy bit when you are an explorer. Don't forget that Kurt learnt the business from his Dad, who ended up costing lots of people a lot of money when that all went pear shaped. Now I know Kurt is not his dad but it is starting to feel that the last seven years have been a massive journey for Kurt to build his own little empire/legacy and in reality he doesn't give a toss about investors (I know many on here think otherwise). His track record of raising cash at low levels is stellar and his disregard for the SP tanking is now just more of the same. His complete contempt for us shareholders is shown in the shockingly poor investor communications that has not improved one bit (or his investor pitches either)- his nice chat's with Rosie at BRR paid for media just don't cut it, in fact they never did with those oh so vanilla questions. Kurt is like one of those friends that you never hear from until either they want something or it is near their birthday. He sends out info every 5 minutes when he wants cash and then dangles the word 'exciting' , 'great progress' 're-rating' and 'updating ..in due course' and disappears back into his hole without a peep when 80% is wiped off of the sp. The challenge to the concession was always going to come, but please remember that a well run company with a pro-active board would know this and have a strategy to mitigate, at least in part. Kurt adding Ulla to the board is just adding more dead wood to his vanity legacy at the top of the organisation that weighs heavier on the cash burn and a further drag on the SP. Kurt in his head thinks he is doing a great job but in reality he has just eroded shareholder value over time and has fallen for the Jam tomorrow delusion, and we all know how that ended up for his dad...bankruptcy. IMO.