Ann: Takeover Bid Implementation Agreement with H, page-5

re: Ann: CUY: Takeover Bid Implementation Agr... Tewbs

Once again you have posted interesting comments and you touch on the underlying weakness that has always existed with the way in which these three companies have been managed. From an investors point of view being a share holder in a company that is dominated by major shareholders who are Directors makes for some obvious decisions. It amuses me that when they say these Directors step away when the details of takeovers are determined by a new Director. Yeah right.

Why have GHT and CUY been taken over? They have no money and what value they have, is certainly undervalued. Geothermal sector may be 10 years off but CUY holds in my opinion bodies of resources that values much more than what the market says.

Bringing back CUY and GHT under the HAV umbrella and minimise admin costs is a good strategy. The value placed on the CUY shares and options is a touch generous but compared to the muck up that resulted from Glencore getting 10% of the company, I think Havilah shareholders can live with this decision.

One gets the feeling that a degree of house keeping is going on before something major may happen.

I reiterate my concerns with Havilah. The company still has high administrative costs and I am of the opinion there are areas that challenge conflict of interest boundaries. No General Manager and Directors have other major business interests which in hindsight have cost the company in its contracts with other companies.

On the plus side they have a very impressive exploration record.

Has anyone noted the influence of OZ Minerals with the key personnel at MMG?

Lets hope good news is not far away.