fully agreed. I suspect any significant share price re-rating will need
1.) the new management team to be appointed, and 2.) at least 2 good quarterly performances at Tritton to restore confidence, 3.) some sort of progress at Mt Muro which looks an ill fated asset (hopefully sale at some sort of value to the Chinese who seem to be hoovering up unexciting gold assets in unappealing locations) and then 4.) figuring out what to do with Hillgrove and the rather interesting exploration portfolio which has suffered from benign neglect due to corporate difficulties.
Hillgrove is all the more of a frustration given the excellent antimony prices and market shortages - the original decision to go to antimony metal instead of selling a concentrate obviously backfired horribly, but I would think a firesale should achieve somewhere in a range of $30-40m if handled by anyone other than the current/previous management whose corporate dealings ever since split started, have been unwise and often bizarre to say the least.
Hopefully Glencore will inject some commercial acumen and urgency into the key decisions.
The exploration portfolio is interesting - not least in that Avoca tank is near enough to Tritton to have real synergies, and the ex Goldminco assets near Orange can at least be managed under the same management team. It probably suggests a corporate relocation to Sydney would make sense.
SRQ Price at posting:
9.2¢ Sentiment: Buy Disclosure: Held
