Hi
@gc2016 - Rod Henry - RED328 and other annoyed GRL shareholders.
What is done is done and the EX CEO of GRL left a sour taste in the mouthes of some shareholders when he did a cap raising that was rather generous at the time, and of course, Godolphin's share price never recovered since that time.
The deal done with OMX - 70% earn- in joint venture with the Calarie ground was a GRL board decision,
irrespective that the EX CEO is now MD at OMX, we should clearly be behind the GRL boards decision.
In any case, as Rod points out in his post, Godolphin still retains 30% of good or bad results at Calarie.
GRL has such a large ground holding in N.S.W. it is not possible to expend on all of it without (working it or losing it) doing such j/v's etc. Obviously the board had its reasons for allowing OMX a 70% earn- in joint venture at Calarie.
The Narraburra rare earth exploration was also a GRL board decision and as we know, it was well supported by GRL shareholders and of course, OMX, who must have seen good reason to participate also.
Let's not forget that the largest GRL shareholder sits on the board, not only that, he is the reason for GRL's listing in the first instance.
(20min delay)