I agree with you %. The market doesn’t seem to value correctly the exploring business of producers these days and maybe the management had enough of this. Sitting on more than 300k Oz of gold and the market was giving it a value of half a cent in current SP. The management had enough. We will all benefit from this demerger. I won’t be surprised if post ipo Golden west Resources Share opens at .35+.
This will not only value the gold part of the business properly but management will be able to use all the revenue from iron ore sale into finding the long term solution of the haulage issue. I’m thinking they know that this is their last chance to make this iron ore business work. Their is atleast 2 years in this iron ore bull cycle and they would want to use that money wisely. Of course they know that the long term solution is Esperance. And maybe their own trucks to the nearest railway and from their by rail to the port. Only time will tell.
But so far they haven’t done anything wrong in my opinion. They said they will improve the haulage and they are. Slowly but surely. They have informed us about nearly every ship load and every milestone they have achieved.
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