Ann: Resignation of Managing Director, page-13

as a former holder I think the worst Heng can be found 'guilty' of is talking up a company whose fundamentals were doomed from the outset. Just look at the position of LCY and MtBevan.
IMO MtBevan would require 3 billion dollars of investment to turn it into an iron ore producer. Hell, LCY doesn't even own MtBevan. It has serious infrastructure problems, and it's predominantly magnetite. If all that doesn't tell you something then nothing will.
It doesn't matter who is brought into the company as MD nothing fundamentally will change. My guess is that the Indians will sit on MtBevan for many years to come - can you imagine the Indian government earmarking 3 billion out of the 4 billion they allegedly have in reserves to get MtBevan up to speed? No way....
Sorry for the long term holders but LCY was a crock to begin with and IMO - especially with the current IO economic outlook - that's not gonna change any time soon.