Hi Lethalba …. I assume if Jules did not think the company was capable he would not have approved the ECI process.
According to company updates however, he feels prepared and has actually invested substantially in other ECI contracts with a view to proceeding in a similar capacity elsewhere.
Time will tell, although maintaining an investment if you don’t feel confident in the company, nor willing to gamble on Jules raising NRW to the next level - especially when you cite the concerns of associates familiar with the project - seems curious to me.
Personally I also consider NRW to be at a crucial stage.
The KGGM Fimiston contract is for a big, high value project and all sorts of things are also being tested, including several new staff members (including a new CFO), the progress/0utcomes of ongoing ECI work in North America (in which much has been invested), and whatever else against a challenging local environment including weather and labour and supply issues and an ever erratic global environment as well.
In the face of all that, as they say: “Cash is king” so I’m looking forward to seeing how much NRW has in the annual report, where it has been spent, and how the coffers will be replenished.
Beyond this, re trust:
Many investors here are in the fortunate position of being long term followers who have seen the way NRW has twice recovered from precarious situations (after the GFC and also the Samsung debacle), and the forum is also traditionally subject to excellent fundamental and technical thoughts from posters of highly experienced professional backgrounds - which is extremely useful for the rest of us.
Personally (I am getting personal again), I like to think Jules has an element of hamingja*on his side as well as keen intelligence, a great reputation, and much respect from his peers …. as well as wide experience of this sector including seeing NRW through times from the sublime to the truly dreadful and back again.
*The Germanic ancients apparently paid much attention to games of chance and a person’s ‘luck’ (or hamingja). “A warrior with luck on his side in the gaming hall was likely to have good fortune on the battle-field too and would be highly prized by his war band.”[ref]
(20min delay)