Member Info for addicknt

Just out of interest, following the events of the past few weeks, what is the sentiment of people on here? Are you feeling more, or less optimistic about things?

My point was less about the sentiment but more about the wisdom and professionalism of saying things like that in public.
At some stage Sangha may have to sit around the table with BHP and it never helps if there's a strong undercurrent of animosity. Good deals are never made in such circumstances and it's best to keep emotions out of negotiations.
I enjoy argy bargy as much as the next man, but...

everyone else I'd love to read the mining journal article, but I'm too mean to pay for it. Assuming the snippet we can read is accurate, I find it extraordinary that a person who runs a retained advisor would use such language about a major shareholder of the company he's representing, particularly as you would expect the target of his abuse to be a potential bidder. I can't see Citi resorting to such behaviour - at least not in public. I've never seen anything like this before and it doesn't strike me as being very professional.
Having said that, I understand the frustration and am not in any way supporting BHP's behaviour.
I suppose the key question is how will BHP react? Will they walk away, or will they respond aggressively?
One thing's for sure, the run- up to the AGM is going to be absolutely fascinating. Bonfire night was last week, but I reckon we're going to have our very own fireworks. Funny how all the action here takes place just before an AGM.

Q, from what I can see nowhere in the announcement of the review does it state 'how we can get to a producing mine' as being one of the options. It mentions financing, but that cannot relate to the mine funding as without a DFS we are in no position to raise $3bn.

kindly replied to my message of yesterday and said that whilst he recognised that 'there has been some change in recent months' (classic understatement!) 'the focus from here is progressing the strategic review as the top priority'.

Copper, or General McAuliffe at Bastogne during the Battle of the Bulge. "Nuts!".

Fort, provided shareholders receive a significant share of any proceeds and the company doesn't hoard the cash, the rinse and repeat strategy has always had a good deal of appeal. Mind you, it requires a strong and stable management team and far less shareholder agitation than we currently have.

We appear to have got through the last 24 hours without losing another director!

Stack, I for one appreciate your good grace.

What a disastrous day! Cough, cough!
A brief fyi: I emailed Fawzi first thing this morning and have not received a reply. I guess he's been rather busy.

RodneyT, I'm pretty certain they will lapse. The manner of his departure does not suggest good leaver status. In any event, he doesn't deserve them.

Mather, I don't think there's anything subtle about their messages.

Orthern, thanks for the transcripts, but as we know, the boards of NCM and BHP pay virtually no attention to us :)

If this company was anything other than an explorer with a huge asset, board disruption like this would be catastrophic. As it is, it's almost certainly to our advantage. Clear the decks of the Productionistas and install someone who actually gets it.

mister, I think the clue lies in the wording of the RNS. If it was all part of a grand plan and was by mutual agreement, it would have said something like " DC has tendered his resignation..." but it didn't. The immediate departure reveals this was not by mutual consent...he was shown the door.

"throw" not "through"...gawd blimey, I'm regressing faster than I thawt.

Bozi, common sense.
They have a fiduciary duty to their shareholders and have long heralded Solg as the jewel in their crown. They are not going to through this away. Why would they? We will have enough cash in the bank to see us through the process and in these circumstances it's difficult to see why it would be described as a "distressed sale".
Don't get me wrong, Dc's departure is a sign of a very unhappy ship - I think we already knew that, but the fact is we're still sitting on the asset.
Cheer up old boy, you'll be counting your profits soon! At least I hope so!

Bozi, the flaw in your argument is that I can see no logical reason why CGP would want to sell cheaply. In fact, the opposite is true and unlike DC, they have real money at stake.

mister, Twigger is a corporate financier and has all of the necessary skills to deliver a sale.
On the upside, we won't have to pay $1m per annum to DC anymore (which he didn't deserve). There's always a silver lining!

Fort, fair point and I agree.

SM, I don't believe it was his decision...he was pushed.