Post by
trader53 on Jul 22, 2023 1:42pm
One mans opinion!
Dr. Jeffrey Hedenquist, an independent international consultant and one of the world's leading experts on epithermal gold systems visited Westhaven and recommended the use of terra spec. When Peter was asked if they were using terra spec he said they didnot do much but had plans to return to its use. Peter also said that in Russia they used terra spec every meter and it allowed them to build a hell of a data base. Why bring in a World renowned epithermal specialist and not follow his recommendation? I know one thing for sure it would of been Gareths call to shut down the use of Terra Spec. If there was a moment that defined my decision to exit Westhaven it was the discovery that a non Geologist thought he knew better than Dr. Hedenquist. As much as I was scorned by this board for suggesting Gareth is a Micro Manager i still today believe this to be the case. Gareth often talks about being a drillbit story as he invests millions of dollars chasing the elusive elephant rather than focusing on the discoveries he has in hand. Let there be no doubt the Westhaven team is honest and hardworking unfortunately the leader believes he is the only one capable of making decisions. I am not a CEO but just applying common sense to the project I would have brought in another set of eyes after every one of the five 25,000 to 40,000 meter campaigns hoping those eyes could lead the Company towards a different geological model that might lead them to that multi million ounce resource. Lastly the compensation packages for the CEO and the CFO should be reviewed as it appears WH is moving into an expense driven dollar saving exploration program. IMO if the first half drilling results of 2023 are mirrored in the second half I am afraid WH will be trading in the teens by December.