I note on the last trading halt there was a similar sense of negativity from quite a few - this was proven to be wrong. It is totally understandable as this company has been all over the shop since the introduction of our partner WEG/Timeone and a lot of long termers are suffering and suspicious of TH such as these. IMO all WEG have done is destabilise the company through indecision/inaction and erode market confidence in the company since their induction.
What we do know:
an announcement with regard to changes at the Company's Cockatoo island Project
So the likely options:
WEG havent taken the chop well and are now legally contesting this and trying to regain 50% control. (not good at all imo).
Tony has continued to build bridges with Hyundai and they are now becoming some form of partner on the project. As to what level who knows. Or another unknown group is stepping up to the plate (would be all kinds of awesome).
A change in the previously proposed mining process/assumptions/ore deliver format (could be good or bad).
The one question i have been grappling with since WEG got booted is why did Tony continually defend them as a great bunch who saved us from certain death only to boot them on a technicality??? Couldnt have management simply recommended a no vote on handing them 50% of cockatoo. To me this indicates things havent been going to plan behind the scenes with WEG. Why rate them as an essential partner only to knife them? Cant work it out and previous advice from management does not marry with what unfolded.
Lets hope like last time we are in for a pleasant surprise.
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