THE 4 MILLION OUNCE BET, page-6545

Some months ago I came to the conclusion that a sale deal had been all but inked subject to the MR. I expected if this was the case we would be informed within a short period after the MR as per ASX rules etc. This has not happened and I apologise for that conclusion particularly to Adv20 and McCreek.
From the serial Top 20 lists it is apparent that Sibanye has sold all its holding in WWI and have publicly stated they intend to wind back their SA operations and will seek more global opportunities, following in the footsteps of Anglo Gold. Therefore it is very unlikely that they will be a potential suitor. It does provide the opportunity to access stranded production facilities potentially however at hopefully peppercorn prices. Skell has told us he has not been approached for his shares. I cannot rule it out but a TO is seemingly a lot less likely. Thus we are likely to go mining which was always the best option for the SP but not my personal preference as I preferred a good price and move on largely due to the perennial delays and frustrations of this mining jurisdiction. I dont have a problem with their procedures and outcomes which I am told by those more knowledgeable are comparable or better than ours but the temporal delays which render the process dysfunctional. Blind Freddy could see MR's for WWI was a no brainer but it took years to get there.
This out of S Africa mood and long delays and recent social unrest has created a long waitlist of people wanting to sell on news, a perfect storm which resulted in the very surprising drop in the SP after the MR. I do not think it was due to prior knowledge of fridays ann. The market is often irrational. Mx made a decision, presumably in consultation with our lawyers and possibly with the added advice from the DMRE, not to include all of the prospecting area into the MR application. It was inevitable then that at some point the resource downgrade ann would come. As it came on a Friday afternoon it served SH interests well, hardly a good move to announce it on a Monday morning complete with a trumpet fanfare.If I were Mx I would have done exactly the same. MQ says it was coincidence but even if it wasnt I approve of the original decision and the timing of the ann.
Personally when I am in the top 20 I avoid getting close to Mx. That way I feel able to criticise Mx without feeling like a backstabber and when something goes awry it is unreasonable to claim that I am mercenary. Top 20 multimillionares who have had financial dealings with the company and or indulged in SI share offers are always going to be targeted when things go awry, irrespective of whether that is fair or unfair and I note Skell has not sold 1 share, those who hold large holdings will always be seen as too close to Mx and have pecuniary interests. That goes with the territory, whether it is fair or not, it is to be expected and falls into the tall poppy scenario. They need to harden up IMO and develop a DILLIGAF attitude. If I were to gain some advantage I know I would use it, I am weak and there is a bible parable that goes "what should it profit a man if he should gain the world yet lose his soul". I want to enjoy my toys, not feel they are tainted so I dont want to be close to Mx just to be sure I can enjoy them. Karma is ubiquitous. Here endeth the sermon and the mea culpa.
Going forward , this is a large gold mine and the SP will eventually reflect that 12m ozs that MQ has flagged they will pursue when the time is right. In the meantime, I and Joseph and others presumably are needing to slowly sell down small volumes to turn asset into cash flow, so the sooner the better. Aside from this I intend to hold until we are mining or there is a TO, which I consider unlikely now. The weekends shenanigans are merely a furphy in which I did not indulge. IMO.