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That's an interesting point. I once looked into the history of Skeleton and it seems to have grown rapidly. Based in one of the Baltics but backed by German money. Yet CPX has consistently claimed to have better products but has clearly not grown at anything like the same rate.
Just re-read the report and on balance am modestly encouraged. The chairman seems to have bought into the need for a change at the top and a proper focus on sales/marketing/customer. As ever it's a matter of patience but there will clearly be further news before the calendar year end which should help revive the sp.
Your argument suggests the management are purely in it for themselves. The aim is basically to keep the monthly pay check coming in for as long as possible. You may well be correct as the same people are still running the show. The Chairman and ceo are in cahoots here to look after each other.. A shocking state of affairs and a reward for failure and incompetence.
Is the ceo of this company now ceo of an entity called ECR Minerals? Seems to be the same person. Can you be ceo of two companies.? Very confusing.
Exactly..the move to go over 3% was calculated. I have no idea whether this is a simple investment or there is something more behind it. I would slightly incline to the former as he is not in a position to influence anything in the company. However no one invests to lose money and he may be aware of certain pending developments.
Return to the dividend list lined up as well. Could see these at 150p before too long.
The company or more particularly the management has made huge blunders but is still in situ. Disastrous decision making with Marsden at the helm. He is best suited to doing tame interviews with the dolly girl. Chairman utterly feeble not to grasp the nettle.
You are right wigwammer the Chairwoman has zero credibility. You cant preside over this shambles and not take some responsibility. Old man Catto must be gutted at the way the ex ceo frittered away the company's money on this expensive acquisition. Here's the plan ...let's buy this resins business on a crazy valuation using debt just before a recession and huge hikes in interest rates. INCOMPETENT MUGS
Just doing some more 'refreshing'. The Eastman resins business was bought for $1bn debt funded. Not too long afterwards the company took a £134m 'writedown' on the acquisition. It couldn't have been worse timed heading into a recession and a massive hike in interest rates. Did the Chairperson and for that matter the FD think it was a good deal at the time. It's a simple yes or no or perhaps they had no say in the matter and it was it was pushed through by Billy BB who has now disappeared to some other chemical entity. You would think that if these people were gambling with their own money they would act more prudently. Eastman obviously spotted a mug and took advantage.
Why is the Chairperson still here when she has presided over such a disaster? Reading up on the background the disastrous acquisition was made by a ceo (who has now left) but used to work for Ineos. Ineos funded most of it's growth from debt (not equity as it is a private company). Guess he saw himself as a billy big boll**** type .
The then exchanges between Chairperson and ceo now read as utterly cringeworthy.
the next results are sept 29th so i believe the company is limited in what it can say at present. all a bit frustrating really.
i used to look forward to results day but after a few years you get get inured to misery!
i think some issues are now being sorted mainly the **** poor sales/marketing. cpx has decent products but couldn't get them to market. running this company from australia was crazy.
Just reading your post Wurzel..sums it up really. The Chairman and ceo are both incompetent liars. The more money they have personally lost the better IMO. Clownish decisions which have brought the company to collapse. Anyone with the stupidity of these two should never be near a plc.
The one that failed. Maybe he was the chief promoter rather than designer. As ceo one assumes he promoted something that he thought was going to be a winner and not a huge flop.
Are you suggesting that Marsden is and was utterly clueless when it comes to designing a pharmaceutical trial and therefore its catastrophic failure is nothing to do with him whatsoever?
Mr Monk seems to know his onions. Hopefully he will be running trials and not Marsden the man who designed a trial which was guaranteed to fail though he was too thick to realize it. Amazing the company is still talking about trials after years and maybe a decade of failure. Still if its not your money it gives you something to do.
You might be right Kenny. Anyway it's not too long till the next results on Sept 29th. I used to think AK would do his level best to keep the sp high to ward off the chance of a low ball offer from the likes of Musk. But he never seemed to bother about the sp thereby breaking the supposed link between management interests and shareholder interests.
I also thought the Murata deal would be transformational but it doesn't seem to have done much at all.
Oh well....no point in being too gloomy.
Yes it's a big one if it moves from MOU to full JV. Trouble is you keep coming back to the funding situation.