Ann: UPDATE ON REFINANCING PLAN, page-11

That last sentence is the clue. Geologists run mines and professional executives run businesses. Turnarounds are as specialised as any other field.

Look at what happened at KRB 3 years ago for example when they were insolvent and their turnaround specialist brought in double the market cap in cash at the height of the recession, and has done it again this year for another mining company. A strong technical group before could not do it. (I was interested in their copper until the new management stopped it.)