LHM is a world class mine and production costs are low. By...

LHM is a world class mine and production costs are low. By contrast, Kayelekera (purchased at the top of the commodity cycle for an obscene sum) is unlikely to earn a single dollar in the foreseeable future

Obviously the main reason for the company’s current woes is the ‘longer and deeper’ POU ‘correction’ (which Molyneux totally failed to foresee or account for), and huge debts acquired over the years to keep the wheels turning.

I also personally believe the Chinese (CNNC), acted in a disingenuous and tricky manner in their dealings with Paladin. I have the feeling the entire course of events was part of some cynical grand plan.

In saying this I don’t totally excuse Molyneux from blame. He bet the family jewels on a short term upturn in POU and lost everything. Perhaps he was also too naive and trusting in his dealings with the Chinese?

It’s a terrible shame what’s happened to this great Australian company. I hope it trades again soon and people can recoup losses. Good luck