gold hits [email protected]/t, [email protected]/t, 5m@14g/t, page-33

Old55

You said:

"...the wrong stuff appears to be on top at the office"

Spot on!

I've only recently started looking at this.

However as soon as I saw the board of directors (two lawyers and a stockbroker!) I decided to give it a miss (though will keep on watchlist).

Compare NWR board to the DRM staff for example, which consists of Allan Kelly (ex WMC with a heap of experience), Heath Hellewell (found Tropicana for IGO and a heap of experience beforehand), and Mark Cossom (a recent appointment who is one of the most respected mining guys going around, to ensure this gets into production).

Will revisit if they appoint someone who actually knows something about mining to the board.

If I was a shareholder, I would be querying this with the company... its not good enough to have a bunch of consultants... they need someone (in fact, they probably need a couple) who knows what they are doing, on the board, full time. Particularly with a project like this one.

In brief, the project looks like a good one, but until they get people running the company that have a clue, well I see little progress.

PS: Have a look at the remuneration of the directors in the annual report...other than the MD, the other two are getting paid bugger all....both sub $50G.

Cdchi1