not my fault i'm going to make alot of money

Heard back from Vas Kolesnikoff the CEO of the ASA this morning and he filled me in on his meeting with Nicholas Curtis last Thursday.

Basic message:
- Crown is not in our strategy.
- We have 5 years before all the REE competitors arrive.
- Don't want to spend any money/time on Crown
- The institutions want us to be a pure rare earths play.
- He personally is happy to "give it a go" in Forge.
- Old reports are being relied upon. alot of work/cost needed to prove up the resource.
- Lynas S/H have an opportunity to be involved in deal
- "not my fault if I'm going to make alot of money"
- need a friendly company, as will be sharing the Lynas road etc.
- With him managing both coys can manage risks b/n companies
- years ago he had 30% of Lynas that was diluted as the company developed - "not my fault I'm making lots of money."

On a number of occasions NC claimed that Vas' information was wrong. Each time the information quoted was straight from the EM.

At the suggestion of spending a little money to better understand the asset and achieve a better return - not in our strategy, don't want to spend the money.

Apparently NC was quite uncomfortable in the meeting - his hands were visibly shaking.

Bottom line: Not Lynas strategy therefore non-core.

Quote of quotes: "it's not my fault if I'm going to make alot of money."

It seems NC knows he's doing the wrong thing, everyone else knows he's doing the wrong thing and hopefully about now ASIC are working out he's doing the wrong thing.

Question is can the system stop the wrong thing?

Vas' meeting with ASIC didn't go ahead.