Hi
@DollarDan
The assets held by 4CE are as good as anybody else's. If we finally have a management prepared to actually drill them then 4CE is as good a bet as any other Co.
Personally, I would ignore the comparisons thrown around in the past i.e. McArthur River, Mt Isa, blah, blah. blah. The 2 previous managements are totally on the nose and anything they said is suspect. [similarly the Mt Adrah comparison with Northparkes etc.]
The CV's of the 2 new directors read well enough ... but we haven't seen any of their decisions yet. It's very hard to get my head around the possibility that the GTT boys might have actually done something useful for shareholders by vacating their seats in favour of the new guys. However, I won't be completely happy until Glovac also resigns and the company secretary is replaced.
Just to give you a quick picture of why these assets have sat unexplored for 4 years.
When the company was run by the Hudson Group ... they exacted $880k/year in management fees. Basically, it seems, that was all they cared about. They were quite happy to undermine shareholders by doing very poor JV deals and part with big chunks of the assets. [Really, longtermers should be grateful we have been through a lean period for exploration investment ... because otherwise, by now, there wouldn't be much value left for retail shareholders].
The GTT boys turned up when Hudson Group's leadership had driven the company into the dust. If you go through the information which came out due to the Takeovers Panel initiative [thanks to the remarkable energy of mainly one shareholder] it's clear GTT saw the old SOC just as a shell.
That's the basic picture... I could go into great detail about lots of unpleasant things .... but....
If the new management are for real then 4CE might surprise.
