what would rbs advise lcy to do?, page-4

Ok, time for a reality check as I see it. Haw has (and never had) any intention of selling it's stake in Mt Bevan. It has plenty of cash and anyway how much is a billion tons of iron ore worth? Cos that's at least how much there is on those tenements. I doubt Lcy will want to sell either but they can't even get a cap raising away.The 2 companies are bickering, it's true, HAW obviously has a problem with some expenditure claims made on them by LCY and LCY agreed to a drilling program for 2013 that has failed to eventuate. Stalemate. I think HAW has paid up in the hopes of getting things moving again but LCY has no money, so I can't see much happening until they do. If they got a good offer for Mt Bevan, sure sell it, but it ain't happening at the moment. And nothing will move forward until the project manager either get's capital to spend. Dig in people you're going to be here for a while. I wonder if HAW could convince LCY to revisit the idea of putting the whole project into a separate company.