Ann: Alwyn Vorster appointed Chief Executive Officer, page-19

Thinking it through further, with my thesis of a larger than expected capex and much larger than expected CR to fund development, the most obvious explanation supports my original thesis... Alister over-promised on the capex and thus small to no CR requirement as CEO and frontman from the get-go, and now it's time for a reality check confession Kabanga thinks it's untenable for Alister to now do a large CR roadshow to raise more funds from the many investors who will feel 'misled' to put it mildly.

Fair enough if that's the case... do the crime, you do the time. I can imagine the recriminations on HC from all those who hung their beleif on fully-funded or close to funded based on various Alister commentaries, they will be ropable if I'm right. Likewise the brokers whose clients got shafted won;t be happy to sit there and get told by Alister to suck eggs and tip in more, "sorry, my bad". Better Alister falls on his sword and a new 'cleanskin' guy can come in and say "it was nothing to do with me, sorry if anyone got hurt, but the mine is still world class so we need to raise funds and move forward"...

INMHO... GLTAH