RE: Bbg is in invested.17 Mar 2024 10:50
Would this be the poor leadership which has delivered the renewal of the project concession, the exploitation agreement, PFS 3 on time, the MOU for the hydro/solar provision and the new IPA? Oh, and the technical report which demonstrated the availability of capital.
I think the problem you have with SC is that you didn't fully appreciate the situation he inherited and what needed to be done. There was an assumption the Cascabel was attractive and the investment case so compelling that the mining community would be falling over themselves to buy it - this turned out not to be the case.
Undoubtedly the interest is there, but those interested parties needed the whole thing to be as de-risked as possible and it's this process which has taken so long. How else do you imagine we could sell it? Did you expect a buyer simply to take a punt on it without knowing whether or not the government would give it the go ahead? Of course they wouldn't.
Finally, what would you have done if you'd been CEO? How would you have tackled a situation where you knew you had a tremendous asset, but no one wanted to buy it without a greater degree certainty? It would be great to hear if you have a better idea.
Caldwell has taken the right approach - in fact, he's taken the ONLY approach and he's is the process of delivering.