low cash issue, page-13

Hi vistica,

The beef is with the old EGO board, can they be called for their reasons or is it in the lap of the GODS of the new board to sort out.????

How much input will ERM have in this.?????

From what I can see is that certain questions still need to answered about the design and the tendering process done to satisfy WHARFs argument of wanting to see. Did ERM see them.??? If so, WHY was WHARF excluded.????

The disputes resolution the JV have in place, was it done in a timely manner or did it drag out.???? Somewhere along the road from when it started to when it was deemed as the JV withdrawal by EGO there is a very long gap and where did the Dispute Resolution take place.???

After the Disputes Resolution took place, how long after did it take to ann the deeming.???? What happened in between.

From what I can make out this took place over a 9-12 mth period of bickering before the deeming withdrawal notice came to the market.

CM and WHARF had a very close relationship as many know and this soured and a lot of water went under the bridge before WHARF started to demand to see the TENDERS and criticized the design costings and were denied. Accusations of all sorts were thrown and I think a clash of personalities came to the fore instead of level headed discussions.

WHARF sacked CM from Yellow Resources but CM said he resigned. WHARF had this up on their website at one stage.

CM was allegedly accused of fraud for a past event.

No wonder there was bad blood between them before and during this dispute. All this is on the net for research if you have not done it already. Ive seen all this plus lucky enough at one stage to have seen extra and know what was going on.

With both parties hot under the collar from past events and now in a JV dispute, how would you think it would turn out in the end.????

End game WHARF were hard done by and as JV partners paying up their share they were entitled to see the tenders and argue the $5.4M paid to Momentum for designing the plant. We know how that turned out and now a complete disaster.