If gold is indeed heading to $3,500 (read Jim Sinclair) and beyond, it would make infinitely more sense to either keep the gold assets (which I believe has been the directors' focus all along), or cut a deal which when discounted back to the fact we are still in exploration mode, is too good to refuse.
Believe you me, HAW is just the beginning of Chinese intentions when it comes to procuring gold assets.
They have the jump on the US and Europe, which remain steadfast in rescuing failing currencies and are thereby distracted at the same time as China is preparing to back the Yuan with as much gold as it would need to make it a success.
So I agree with others who say that the end game is HAW's gold assets, without talking down Mt Bevan's obvious value.
In essence, I think HAW's directors have just done a number on LCY's own directors, who have sat idly by hoping that HAW would self-implode.
In my opinion, they were wrong.
ann., page-69
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