Steve was the right man for the job when the company needed to trim its sails, forget any grand vision and concentrate on the giant pit. Its pretty clear that the strategic direction now that the pit is finished is to maximise value by joint venture or sale of the mining assets or an IPO.
I think at this stage we need someone with skills in Mergers and Merchant Banking at the helm.
Laclan is the right person to hold the fort , finish the processing and progress the Ug targets.
I think we will see the board appoint someone with an intirely different skill set now the strategic direction has been spelt out so clearly.
I think when Steve was writing those lines about the future he would have realised he was not equipped to execute the boards plan.
As the chairman said the giant pit has been a monumental failure for those who put up the seed capital. Because Hgo has not been able to shine as a successful miner I think the boards strategy is spot on.
Im of two minds whether a quick sale or a longer time frame IPO would be best. With ARA and Anthony Bruer involved the wait might be worth while.
HGO Price at posting:
8.7¢ Sentiment: Hold Disclosure: Held
