Ann: Maiden 32,000 t Cu Resource for Griffiths Hi, page-21

re: Ann: Maiden 32,000 t Cu Resource for Grif... I witnessed a presentation by the new CEO in Melbourne last week.
His open criticism of his existing production teams went down like a lead balloon. Stating an ambition to reduce costs is one thing, but slagging staff?
He also commented that Admiral Bay is definitely up for jv (and so it should be when you need to spend many millions on an exploritory shaft, have inferred grades of less than one third to what the previous producers at Cadgebut, Kapok and Bleazedale had, and have terribly soft ground conditions to boot!).
As to Mungana, the comment was made that this holding would probably drop to around 20% over the fullness of time.
He struck me as a big company operator way out of his depth when dealing with capital and time constraints. I am interested to see if he can last through 2012.

Cheers, TAS