spin doctor required perth, page-36

re: out with it microsoft... abuman If my memory is correct it was Woodies who called Chingquetti for 123 mbo recoverable whereas there was a fair bit of conjecture that the real number was in fact higher.....in the order of 150 to 160 mbo recoverable. I think someone on HC may have suggested that SP alluded to higher numbers at one of his much earlier presentations re Ching.

It would suit Woodies to say the issues are with the geology etc, but then as the operator of the JV aren't they supposed to have the expertise to get this right???

By blaming the geology and hinting at a downgrade on projected recoverable reserves Woodies are shifting the focus away from themselves and I don't like it because as a shareholder it simply puts another dark cloud over this stock. It sounds like to me they are ducking for cover. I don't doubt for a moment that there are not some real issues........but is it really the reserves or just bad management???

Good management would have been on top of the technical issues.......wouldn't they? or am I being to harsh on Woodies?

Cheers
Boomer