Ann: BONANZA ASSAY RESULTS AT MACAULEY CREEK, page-49

This is part of the continuing myth of Inca. Create a reason why X is to blame for Y. I know that is a story that does the rounds, I've heard it before. I know where I heard it...my question to you is; for you, who starts that story and why would they? What is their motive? Who would possibly know that was the case? The other side of the same thought experiment, let's pretend the ludicrous story is true. Why would RB and GL do that? What do they gain rather than running a company well? Doesn't hold water for me and that opinion is based on both logic and my experience of them.

It is not obvious to me that GL and RB would always 'vote as a block' regardless of the merits of an issue. I'd actually call it a silly idea and wonder who could possibly have come up with it? I ask myself the question who profits from such a story and why? I'd also point out that within the time frame you are talking about there were four directors....so a block of two does what exactly? Perhaps it stops the company dead in its tracks if there were two blocks of two? Just as likely as your proposition. However, I am not a board member and therefore should not know the answer to that conundrum. Unless a board member was inappropriately telling me stories.

You can draw your own conclusions with the thought experiments above. I am more than happy with mine.

I also can't abide this narrative that exploration was too expensive or expenses unexpected. Everyone wanted the Frewenas drilled like a pin cushion chasing the tier one find. What fool thinks that hunting tier one targets doesn't equate to a tier one budget! RB has also been very much side-lined since he stepped down from the board so he is not responsible for what ever has happened since.


PS I bet once upon a time JW thought RB was a great geologist and MD. I wasn't around back then so can't be certain but otherwise why would he have invested and become involved? IMO, there are themes and patterns at work here if you look for them. Are they accurate? Judge for yourself.