acamas
I'm not out to get Potter but I do believe that a case can be made that he very much overpromised and underdelivered in his time at HDR. He delivered nothing on Guyane in 2 years ... nothing!! He mislead us in May with his overconfidence on the state of Chinguetti, and I think the placementees at that time in the UK were quite possibly mislead as well. That lead to ML and other institutions exiting and even helping the shorters ... then .. after the sp had been slaughtered Potter has the gall to say he got a good price for HDR ... BS I say! If he had promoted Uganda better and farmed out Guyane on schedule (he promised us it would be drilled by June) ... the sp would have been higher and the offer would have had to have been commensurately higher as well.
Poor performance I say. Perhaps I am being overly negative and I guess we should wait for the boards reasoning and KPMG's valuation in Novemebr before we condemn him. If they say HDR is worth $1.50 and that $2.00 is a great premium then hurray for Potter!!
H
Unless there is another bidder and that is looking unlikley I think Potter has sold us out ...why .. because we will not get to benefit from Uganda and Guyane which held such promise. Its also BS for him to say well you can take TLW shares to benefit from these assets. They were worth much more to us in HDR's hands because of the sp leverage they provided on a $2 share as opposed to a $9 share.
HDR
hardman resources limited
