Again, from the letter, it states that Gold Fields are the manager of the JV. I would assume the responsibility for the performance of the operation sits with the manager not a passive partner. To me, inclusion of the word 'respectfully' demonstrates GOR's position in the management arrangement and power balance.
"- the market value of Gold Road’s interest in Gruyere is impacted by the performance of Gold Fields as manager of the Gruyere joint venture. Over the life of the joint venture, Gold Road has on many occasions respectfully and constructively taken steps to seek to improve the ongoing operation of the Gruyere mine;"
GOR Price at posting:
$2.93 Sentiment: None Disclosure: Not Held
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