re: Ann: Appointment of Don Turvey to Contine...
Mihal. The patronising comment about investors having to understand the difficulty of developing a mine is ridiculous. Its CCC who have the extremely ambitious timetable. Investors are questioning whether it can be done. What is CCC actually saying here? If they are track with their own schedule then great. Just say that. If not on schedule, say that as well and don't blame us for being unrealistic!
I bought some trading shares on this announcement. Wasn't really sure how it would be received but I thought that it was a very carefully worded, constructive admission of some problems in management and communication. Also, a signal that we will see more of Don Turvey (his name only came up once in the half year report, issue of options)and that the company will focus on existing projects, not dreams of African domination.
Unfortunately, the immediate follow up, indirectly from John Brewer, is the usual, everything is great spin. That combined with no details of anything leaves me a seller before the close.
CCC Price at posting:
63.0¢ Sentiment: None Disclosure: Held
