Nothings changed,......someone needed to be shot to hang all the really bad news on that is just about to appear in the qtly....... simon had to go but so should the rest of the board. Hinze came into the company with jackson, he has the same agenda, Readhead hasn't gone he's just moved to non-exec, the company's agenda has not changed........move the company to Canada......What the?????????????
Lundin and co now have US$10M of convertible debentures with who knows what fine print, plus who knows how many shares.........The talons are in, things won't end up any different.......
Australian shareholders have just spent $100M+ tidying up the mine, that's $100+ Lundin has saved when he takes over..........Good news?????.........Not even close for existing shareholders.
None of the problems identified are new, why didn't the board function to deal with them a lot sooner than they have.......We are now told that the project manager for the mill upgrade has had to be fired........NOTHING this board has presided over has been successful............I'm sure in a week or so we will be told the company is in a far worse state than believed and that there is no option than to fall at the feet of the debenture holders.........Game! Set!! Match!!!
BDR Price at posting:
5.5¢ Sentiment: None Disclosure: Not Held