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The only thing that is sad is you
There was absolutely no need for any change to the tunnel spec. Fraser didn't have a clue.
Pictsloup
How much did they pay you to write such illogical and inconsistent waffle?
You obviously have not met Rishi Sunak
Odey is a sponsor of Boris, and he is also from Yorkshire. A lot may happen if the no vote wins, especially as our new chancellor represents Richmond
Just shows how committed Cutifani is to investing in locals! Use an Aussie and he will get more no votes for insulting local peoples intelligence. What does an Aussie know about how Fraser and Cutifani have angered shareholders? Nowt!
.... or Sheila if it's a lass
.... or Sheila if it"s a lass
If an Aussie calls, I guess the response needs to be "on yer bike, Bruce"
They'll need to buy an awful lot of shares to have enough yes votes to cover that large bond position. Seems to tell us that there is another bond holder that will be looking at alternative funding instead of administration
Evidently the appropriately named Cutifani hadn't yet worked out that it is local people that have funded the mine that has been built to date that he is attempting to get for substantially less than what locals have paid to build it, and that locals are not swallowing his "locals" BS.
Gotta laugh. With so little at risk to lose, it would make more sense to vote no, and gamble on the bond holders and IIs coming up with an alternative funding solution and an increased share price
What is of very great concern is that Anglo have admitted that the mine is advanced but the BoD are denying us knowledge of how advanced it is, and then recommending we vote yes when they are deliberately denying us that knowledge. That is indicative that they are not fit to be directors as they are not acting in the best interests of shareholders. Their failure to share the same project progress info with shareholders that they have shared with Anglo also smacks of collusion with Anglo.
As a construction professional who has been involved in many multi-billion projects worldwide, my observation is that this project is now in a mess because it seems contracts were awarded before sufficient funding had been obtained to service completion of those contracts. To make matters worse it seems the contracts were set up to encourage contractors to build as fast as possible without properly factoring in the need to align speed with available funds. There should have been inbuilt contract provisions to slow down progress to suit funding availability and contracts should have been set up to allow mothballing. This would have protected shareholders, and provided the necessary breathing space to secure funding. It looks to me like the BoD have simply accelerated matters to either an under-valued fire sale to Anglo or liquidation, which would seem irresponsible. Mr. Fraser has a lot of explaining to do. I am waiting for him to do that, instead of him giving his meaningless press interviews.
Going full steam ahead plays into Anglos hands and gives them lots of competed mine in a cheap deal. Slowing down would protect our funding money and shares, and create more possibilities for alternative funding. Easy to see where BoD priorities lie. They should have slowed down many months ago.
Grammar!
He should also be saying he will step down if it's a no vote
I think Warren Buffet would have arranged for Mr. Fraser to be voted out several months ago when it became obvious that he was incapable of fixing the funding
I know, Chris
When the BoD get a whopping 19M bonus from AA for recommending the deal and an ongoing handsome salary why would you believe them?