More selective memory and re-interpretation of history ! Why do people keep exhuming these dead issues that are irrelevant to VAU now ??
Cool Hand aka Tonks aka LT, achieved 2 great acquisitions that bulwarked the SLR SP - 1. Doray, 2. RED5.
After both of these acquisitions, SLR MC was expanded and the company life extended.
When merger discussions were secretly going on, both RED and SLR SP was floundering - SLR was 100c and fell to 81c, while RED was stuck around 20c .... after merger gelled in the markets mind, both RED and SLR SP doubled ... this is unlikely to have happened without the merger, as both companies had flaws that were off putting to the market.
Reminder .... while the SLR diehards go on endlessly about RED's hedging ... without which KOTH would not have been funded, they overlook SLR flaws of short mine life, troublesome assets like Sugar Zone, and the appearance that Doray's best days are in the past ???
The merger allowed a massive rationalisation of the combined assets, elimination of group debt, reduction of hedging as a proportion of group total production, aggressive tackling of identified key problems and reintroduction of aggressive targeted drilling to extend mine life quantity & quality.
So the the demonised LT has been the repeated saviour of SLR, but gets no credit from ungrateful SH's who cant see the wood for the trees.
Reminder - SLR hired LT in 2014 after the SP had descended from 400c to 14c .... and under his decade long stewardship, SLR became a mid tier presence .... but remember also, geology makes people great NOT the other way around .... LT made the best of a mediocre hand IMHO.
PS - I have never met LT, am not in any way connected to him .... but credit where credit is due ... stop making sh#t up !!!
The sainted Raleigh has had 2 outstanding successes - building up SAR, which he sold to NST at the top of that market, and his outbidding SLR and RED for St.Barbara's assets ..... he's yet to justify the hype around his presumed (superior to LT) management abilities with a GMD still in utero.
FFS .... anyone familiar with the mining business knows LT has a great track record for over 30yrs, and if you weren't comparing him to St. Raleigh, would this criticism ever occur.
VAU is only a mere 5 months old and already is performing according to the agenda the new MD announced after the merger was complete.
The consolidation of the Leonora makes great business sense..... it should happen, but when GOK.
The ultimate consolidation would be adding VAU/GMD to NST to make a globally significant tier one miner akin to BHP .... IMHO.
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