Ok. so where to from here?that cannot seem to be answered with clarity (and certainty) from any quarter.
a. let's build!
ok. for a moment, let's give can management a shot:
steady soldier. i doubt this present team can execute - the huge financing and construction risk(s) preclude this option completely imo.
plus, let's also consider that this lot have taken us no further along now than we were 4 years ago.
b. ok; let's sell!!
can management?
i think not. certainly not to get us long suffering shareholders a "reasonable asset value" which means this option won't happen (in its current form). to think we can, now suddenly, this Q or next, sell MJ is uninformed and n
aïve. what do you sell exactly? read the so called feasibility study, it will provide you numerous indications of how much (more) work is still required. and what of the sulphides?
this lot have stuffed it big time. no banker will be able to make this fit into an M&A scenario WITH A RESPECTED ACQUIRER and our current feasibility study. said acquirer wouldn't know what they were getting and imo, would not take that risk.
c. ok. let's work with a partner!!
how fickle. we've just been on that boat for the past +2 years. imo you would be, once again, uninformed and naïve if you think CHD were not, and had not, been approached by LUN (and others) to assist us over this period. management rebuffed them all. great.
and what of "the russians"? are these shareholders (that voted for rath et al), going to come to our "rescue"?
me thinks not. forgive me, but the taste of HRG is still too fresh.
so we're "zero for three" and i'm still a sceptic (and a shareholder). i am suspicious that this board and management have got a few skeletons in the closet that we haven't been told about.
so it's a stalemate.
but, i hear you ask, if cu goes to +$3.20 or more, we go up, right? sure.
but that is not "management executing and delivering value on behalf of its stakeholders". that's just providence. after so long, i would think shareholders would want much, much more.
anyway, if all you want is leverege to cu, may i suggest you go off and buy QUA?
so, "no".
in anybody's language, i would challenge that this management has a much bigger problem on its hands than is apparent to most shareholders presently. i think there is a massive credibility vacuum demonstrated by the 3 points above, as well, let's not kid ourselves, what exactly is it we've achieved in 4 years?
nice one rathie.
just my opinion, is all - topdop.