"- 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;"
What/who is the problem at Gold Fields? Is it the South African board, executive team or the local GF operations team? Who is responsible for the underwhelming performance of Gruyere to date? MACA clearly had issues but are now better capitalised under Thiess ownership. As pointed out in the letter from Gold Road, Gold Road have been engaging the operators over the life of the project to try to improve the performance.
Does anyone know how Gold Fields are performing at St Ives, Granny Smith and Agnew? Have these operations suffered from the same level of poor leadership and management?
Based on the very poor decision making displayed so far in this bid process, I think it would be reasonable to assume there is a competence issue within the Gold Fields board and/or executive team?
GOR Price at posting:
$2.93 Sentiment: None Disclosure: Not Held
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