My earlier post about gold got me thinking and led to a quick Google, how’s this for a coincidence…
https://timesofindia.indiatimes.com/city/visakhapatnam/ap-has-huge-gold-mining-potential/articleshow/56840679.cms
http://geomysore.australianindianresources.com/index.php/jonnagiri-gold-project/
Andhra Pradesh does in fact have gold, currently there are 2 mines being set up by a private Australian-Indian company called Australian-Indian Resources Ltd, one of which, the Jonnagiri project, is in Kurnool and was due for commercial production to start about now, Jonnagiri town is situated less than 70km (line of sight) from our plant, exploration by AIR involved drilling and beneficiation, maybe our plant can beneficiate gold as well?
Another thing, sure David Mendelawitz when at Fortescue worked in iron ore, but more recently when at Cleveland worked in gold, see video in post here where he was interviewed while attending a gold conference in India in 2016 https://hotcopper.com.au/posts/36124520/single maybe he was scoping out possible opportunities?
I wondered why 1st Sam would vote in favour of the performance rights when they had nothing to gain and everything to lose, maybe they knew the whole time and as such was a non-issue, maybe they took the opportunity to mop up cheap shares based on poor retail sentiment?
Anyway, this is all pure speculation on my part and I would need more info before I could form an opinion on whether it’s good or bad for shareholders, I just found it both interesting and a big coincidence given the reason for the TH and thought I’d share.
Whatever the outcome, good luck to all holders, we are certainly due.
