RE: Novice2015 Apr 2021 10:09
This is a lovely lesson in reality.
Any company has to evolve and face changing economic environments. Those that evolve and capitalise on opportunities will thrive, those that stick with some outdated dogma generally fail.
Think back to when the deal was done with Pacific. Yes the aim, then, was to find and prove up a prospects. Package up and sell, move on to the next.
Well, lots has happened since. HAV hit big! NCM need HAV to feed Telfer! Covid has changed economies worldwide! The prospects for PMs and especially copper are massive (compared to a couple of years ago. GGP has more, promising prospects in the area whilst is is increasingly looking like a district scale discovery! GGP has prospects in other areas too!
I thank out BOD and especially GH. He recognised (and signalled in advance) that his skillset does not cover expansion into a mining company. He has stepped aside to allow someone else to take the reins for the forseable. This is the proper management of a company in the best interests of the shareholders.
Now a now plan and future needs to be charted by the new man. He is operating in an economic environment completely different to what was expected and I am sure he will evolve the company to meet the new challenges.
The old mantra of sell HAV and move on, is gone. Dead. Of no use whatsoever any longer. We evolve or die.
I am in, big time, for the long haul (certainly for as long as we have such far sighted BOD).