Was good to hear from Michael personally last night and great to see we are in very capable hands. Looking forward to moving move into the future. Some points:
The CCP: The 50/50 cash return and company retain ratio is about right and management are comfortable with this.This is definitely the best way to progress the company IMO. I don't think IVA will dig there heels in and MA hinted at such.
Hazel creek and Pumpkin gully drilling to commence shortly.Michael mentioned in particular that the hits at Salebury were outstanding and that if any other Co. had announced those results, it would have put a rocket under the share price.It didn't do much for our SP because of the constant attention on the will they/wont they deal with Xstrata.
M & A's possibly on the cards, including, (given the Boards experience overseas), deals on assets in other countries. Bulk commodities, base metals, whatever offers value, all up for consideration.
Gold assets: Open to more joint ventures with polymetals. Wallace South( Turpentine) has good potential for a small gold operation
White Dam going beautifully and cash costs ridiculously low.
MA sees Shaws target of 82c as easily achievable and Fox's $1 as no obstacle either.
All in all, looking very, very positive.
EXS Price at posting:
62.0¢ Sentiment: Buy Disclosure: Held
