Member Info for addicknt

Sorry, I thought you meant there had been an announcement. Perhaps Mather's pulled a rabbit out of the hat.

I can't see anything on either ASX or the company web site.

It will be interesting to see the structure of their proposed fund raise.

Pbow, don't worry, the Aussie Moron's either having a complete breakdown or he's been on the red wine all day. It's his neighbours I feel sorry for. He'll be telling us Mather's organising a coup in Quito next and is currently marching troops towards parliament.

Fort, if a was process ongoing it all depends upon how they've organised things. Sometimes a CEO prefers to negotiate directly, on other occasions they prefer to do it via the appointed advisor, although bear in mind we're not paying anyone a retainer at the moment, so Sangha would be working for free. Where you are right is that there's no doubt SC would rely heavily upon Sangha, for the simple reason he's a corporate financier and SC isn't...but that doesn't imply SC isn't acting as CEO.

As for your second point, are you really not sure what he's been doing? Have you missed the various announcements?

The point about a chairman is a valid one, but one hopes the NEDs are doing their job properly.

I see no evidence to support your broader argument as SC is delivering what's been asked of him, and we have no idea of what's happening at a strategic level. For all we know, he could be in discussions this afternoon with a potential buyer; or he could just be getting on with the tasks outlined in the finance agreement. This is the point; not a single one of us really knows what's happening and this is true of every public company, so to damn SC based upon hearsay and conspiracy theories strikes me as being completely irrational.

Fort, what makes you think that?

No I'm not. What I'm saying is they cannot enter into any form of agreement without disclosing it. Even though Sangha is not a director he's a Related Party and probable Insider, and as such the same rules apply. In any event, what authority does Sangha have to speak for the company? Answer:None.

Eloro, they were so upset that they decided to press ahead with the civil case against his estate.

BBG, you obviously believe BHP would be happy being party to an illegal agreement. Sit back and think about that for a moment.

BBG, whilst your prediction of a jv between BHP and Jiangxi may indeed eventually be one of the alternative outcomes, to suggest there'a already a deal in place is, to say the least, fanciful. If there was such an arrangement it would contravene all of the relevant disclosure regulations and the directors would be guilty of creating a False Market by way of wilful misrepresentation.

It's true that the UK authorities are pretty hopeless in pursuing such infringements, and this is the reason aggrieved parties tend to use civil law to seek redress - look at HP and Autonomy as a contemporary example. In our situation it would likely be FN/Osisko who would, with complete justification, feel that they had been lied to , so why wouldn't they seek damages for lost income as well as misrepresentation? And this would be before the regulatory authorities sought to pursue the company and its directors for breaking Company Law and faced the prospect of time in jail.

It's inconceivable that our Board have done as you suggest - why would they risk everything when they don't have to? So I'm sorry, but you're barking up the wrong tree.

HfH, every CEO would love to be able to control the sp - sadly, they can't. SC is doing the right thing, but the market isn't giving him the credit he deserves (that should get Eloro going!) My personal view is that there are a number of reasons for the current sp, but whatever they are, the market value of this share is way out of kilter with its true worth.

O/T I've been following your posts on HE1 for some time and it looks like an interesting prospect. I haven't invested yet (or rather I had a quick trade, but haven't committed to a longer term investment), and am waiting for the next RNS before so doing. Let's hope it's a good one.

Eloro, I take it you spotted the inherent contradiction in his post?

HfH, you say the SR has been a 'complete waste of time and money' and yet you also state it has delivered the most important ambition. In other words, it's achieved 50% of its purpose - and that 50% is, at this stage, by far the most important bit.

SC has also achieved what a vanishingly small number of mining juniors ever do - funding. 750m doesn't strike me as being a failure. So why would a new chairman want to sack a CEO who's delivered what the board asked him to? And can you imagine the chaos if he did?

As it happens, I think your analysis of the regionals may well be accurate, but is that SC's fault? How could he force people to make offers? If the type of exploration needed to progress them isn't part of the major's strategy, there's nothing we can do to change their minds.

SC was dealt a pretty poor hand and he's done a good job of getting us this far.

Eloro, thanks.

Oh dear! So they managed to arrange a complex 750m funding package, but apparently can't organise a p**s up in a brewery. Another individual who doesn't understand what's happening.

Eloro, was he referring to the 'lifestyle' comment?

One salary comparison: Sean Day at GGP, earned a smidge under £1.3m in the last reported financial year. Even my old colleague Alex Borelli, who is senior NED at GGP, earned nearly as much as SC. People can level all sorts of criticisms at the company, some of them fully justified, but to describe it as a lifestyle business is plain nonsense.

Well, whoever said it is an ocean-going idiot. Just look at SC's salary and do a quick peer review.

I may be wrong, but I don't think they produce one for the end of June quarter because it coincides with the financial y/e. Last year the next one was produced in November.

and neither do i overlook the missing money and over the past few years i've made more noise about it than most. i've tried on several occasions to get answers from the company and tabled a question at an agm...which was ignored. the only answer i've ever had was from fawzi, i think. he told me it was not disclosable, which wasn't what i wanted to hear.

however, so much has changed since those days that the company is barely recognisable from the utter **** show nm presided over. you are extrapolating from something which took place years ago and under a totally different management team and are leaping to some very strange conclusions.

i repeat: fn did months of dd and they most certainly would not have signed-up to something if they thought our team were either useless or bent. take some comfort from that.

Eloro, I thought you were a scientist who relies upon evidence. In fact it seems you prefer supposition, guess work and bias. There is no secret deal with BHP and I'm genuinely surprised an intelligent bloke like you believes there may be.

Eloro, you're supposing nothing has changed since the bad old days, but have absolutely zero evidence to support your argument and you haven't answered my point about FN and their dd.