Neilst it always pays to be gracious in defeat. So in this regard, well done to David Harley & gang for pipping us at the post. It was a close call, but in the end 74m voted against the spill resolution Vs 50m for. It kills me but David was the victor on the day !!!
Let's clear things up. My aim, and I suspect all others who voted like me was to show management and the market that we are not happy shareholders. Hopefully this close result was the kick up the b_m DH & Co needed to get a deal signed with POSCO.
David Harley released an announcement today stating again that he sees the JVA signed sealed and delivered in Dec 2012. I honestly do hope this occurs, as all I want to do is claw back my losses. A bonus will be to make a profit.
However should David Harley NOT signed the JVA deal in December; I suspect he will be forced to resign. Why? Because should Dec come and no deal, it would be the 10th,11th,12th.... time we have witnessed another deadline NOT being met.
If there is no deal in Dec and David Harley does not resign, I think we will see a General meeting being called to oust him. I suspect the 74m votes that voted against the spill will turn and the majority of vote’s casts will want new blood.
However let’s finish on a positive. We, even the angry shareholders want a deal done with POSCO. We would love nothing more than the JVA deal signed sealed and delivered. We just think it won't be done that’s all.
What are other shareholders thoughts?
Especially those who voted AGAINST the spill resolution? Should December come & pass us by & there is no JVA deal, will you be voting for David Harley again?
GUN Price at posting:
8.1¢ Sentiment: None Disclosure: Held
