And see if you can fit this in to the sensible part of your brain. Bet you can't!!
AUR gets $1.2m.
FEL gets $300k.
FEL has no interest at all the Doolgunna. It's 100% AUR. It's the big prize here!
FEL has 20% of Morcks Well. AUR has 80% of Morcks. However, FEL had no financial exploration commitment. It was free-carried until a decision to mine was made.
The total payable is $1.5m. How come FEL scored 20% of the fee when it had no interest in Doolgunna? Sure, it gave up its free-carry right, but it surely didn't carry that much weight.
You've been conned Board. Step aside and let some seasoned experienced people come in.
I'm totally behind the proposed ousting as per the proposed resolutions posted last Friday.
I wonder if Andrew Frazer of Somers was involved in this deal - excellent for SFR and maybe ok for FEL (some exploration money for the Congo) but very bad for AUR.
It's time for a new avatar!
AUR Price at posting:
5.1¢ Sentiment: None Disclosure: Held
