Reason for AGM in TorontoI believe that the meetings with Newcrest too place in Toronto, which was one of many reasons as to why they choose to be there. Of course, they are catering to us investors.
It was stated that the meetings with Newcrest concluded at 1am on Friday morning. If the meetings were in Vancouver than that would be 10pm Toronto time. Did they fly red-eye to Toronto - I think not.
I did speak briefly with SA's lawyer (sorry, his name escapes me for the moment), and he commented on the fact that SA would spend money for his airfare to Toronto. We then discussed the Newcrest meetings as I asked about his role when faced with Newcrest's lawyers, He described their side of the table as a "team", which makes perfect sense to me.
In summary, dollars to donuts, the Newcreast Team was in Toronto, and no doubt anyone else that SA may have had meetings with would have been in Toronto as well. Taking the AGM on the road implies that the AGM was not the only item on the travelling agenda.
My guess, and my guess only, is that Lombok is of interest to both Vale and Newcrest and SA is going to take care as to how much to JV and under what terms.
SC