John Cahill's report on Boardroom Radio seemed pretty fair. To my (biased) mind, it seemed to confirm a fair bit of what was assumed in my previous post. He seems like a very good man.
He mentioned four problems, one of which (a mine winding plant glitch) seemed unavoidable, but the other three of which come down to HR selection and management. I beleive it is natural that senior managers who fail once in these departments are likely to fail in them again, the next time the pressure comes on. This would underline any call for additional blood.
I would like to ask some questions:
- Given the company's strong asset and resource position (relative to market cap), what are the reasons it is taking so long (11 months) to close a capital deal?
- Are there people around who are able to add to the public face of the company (without diminishing the current HR asset), thus reducing negative perceptions/risk of the old blood repeating past mistakes?
- If the company had just one priority, would it be finding that person (and diluting your shareholders with his remuneration), or would it be closing a cash deal at 3 cents pre share (and diluting your shareholders by a greater amount)?
GBM Price at posting:
3.7¢ Sentiment: None Disclosure: Held
