Member Info for addicknt

Rodney, if that's the case is it not possible to share with the rest of us?

TI, thanks for the summary.

SM, you were wondering about the DGR situation.

They issued a quarterly report today which shows that at 31st Dec they A$852k available cash. It's a bit confusing, but it appears they haven't yet drawndown the full amount of the Samuel loan and consequently the other loan was, in part, still outstanding.

SM, thanks. Did you find the experience useful?

Eloro, he made it pretty clear that the intention is to flog it once it's been de-risked. Obviously, that depends on people being willing to pay a good price, but it's an impressive asset so one would hope there are willing buyers out there. I am equally disheartened at the prospect of four more years, but still believe the Board is pursuing the right course to deliver shareholder value.

Magoo, agreed. If we're relying on that bloke in Nova Scotia for our PR, I can't see things improving. And I'm 100% with you about the unwillingness to answer shareholder enquiries - although I suspect quite a few people ask questions which, for confidentiality reasons, cannot be answered.

Fort, good post.

Eloro, the problem is Caldwell isn't a natural communicator - very few engineers and scientists are, which explains why not many get the top job. He's not as bad as DC, but it isn't his forte. Come to think of it, neither was NM. He came across as arrogant and bored.

There's a fine balance to be achieved by CEOs. Too much insincere smooth blather is just as bad as someone who's not good in front of an audience. I remember that bloke Parsons at SOU. For a long time shareholders bought into his total BS, which allowed him to lead them up the garden path before he bailed out having made a lot of money for himself. When I first saw him giving a presentation I was put off by his sharp suits, sparkling shoes and overly Brylcreamed hair. He looked like a polished Del Trotter.

So the question is; car salesman or gritty engineer? It's quite difficult to find those who get the balance right.

Did we actually learn anything new or significant from yesterday? Maybe there were a couple of things.

1) Newmont are onside, but it sounded very much as if BHP are not.

2) His emphasis on getting the project to turnkey stage gave us a real understanding of how he defines the word.

3) Development/production are seen as being the last resort.

4) We were given confirmation, if we needed it, that we don't have funds for any regional exploration other than at Tan, which SC believes offers an 'exciting' (he used that word too often) opportunity to start mining earlier.

5) SC is most definitely not a finance man.

Otherwise, I don't think very much new emerged and I'm really not sure they should have bothered. I guess they would argue that retail investors keep demanding greater communication and they were merely doing as requested, but from the reaction on here, I fear this may have backfired. The next time they decide to do this they should wait until they've actually got something new to tell us.

It looked to me as if SC was jetlagged and his performance was lacklustre - Chris was far more convincing and gave a good impression of being on top of his game.

Overall, it gets a 3 out of 10 from me. Eloro, before you say it, no, I haven't changed my mind.

Jerry, I got the firm impression BHP are not onside. He fudged his answer and concentrated on Newmont.

Jerry, they're simply getting on with the task of de-risking. Boring? Yes, but absolutely necessary.

I suspect there's a good deal of focus on what to do with the other prospects and I believe we'll something emerge in due course. In fact it could be the real reason why they're in London.

Bozi, they could do that remotely.

SM, I'll be interested to hear if he gives you an answer. Can you also ask him about the CIPA.

RedRoger, agreed. There's no way they came here to conduct a webinar which could have been done from his sitting room, nor are they here to meet a few blokes in the boozer.

RK, yes, it was very noticeable.

At least we now know BHP are not onside.

Ignore that, I worked it out.

I can't log in to see the bloody thing.

RK, let's hope you're right, but that most definitely isn't what SC said.

RK, it was in one of the interviews he did after the royalty deal.

RK, Caldwell has admitted that we will need equity. I assume he meant if we actually go ahead with raising the additional funds needed for construction.

Did they pay for extra legroom?