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Open Letter to Simon Hay, page-60

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28/06/19

22:32

Post #: 39297047
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Originally posted by regal: ↑

What was said about JB made sense. The Americans were interested. Six months of the year is snow covered. That part was plausible.
AT implied the cash would not be accessed because they were trying to get tax credits for reinvesting. If they get tax credit the fund stays for building. He then says, they may look at using part of the fund to counter short selling. This part didn't make sense. Martin corrected this by saying they can. AT seemed like he was looking for recognition. He didn't care what the SP was.
Martin said finance was not a problem. Where is the cash coming from? Posco fund stay with SDV. The balance must be from MtC. Someone else must be looking at a stake in JB. There must also be cash coming for SDV, the negotiation is who has mineral rights.
Another thing, if a JV partner was asking for 50kt instead of 25kt, why did they go through the tendering process and waist time? To be fair for everyone. BS, the company was already in negotiations. JL would not know the details unless he was an advisor for a chinese bid.
Why did tianqi have a go at galaxy early 2018 about consistency, quality and volume.
AT thinks shareholders don't need to know. He runs the company like a private father and son business. This is a public listed company. This was the fifth largest producer 18 months ago, now valued like an explorer. The banks value the assets at nothing. The company says alot of progress have been made. Communication is silence and holders pay the price.
The shipments will go ahead, the customer have to buy it, their customers need supply. The projects will be developed. The new CEO will have to rebuild share holders value. Didn't have to go down this road.

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How does a mining company deal with snowy conditions 6 months of the year? Would it affect its operations much?

GXY Price at posting: $1.23 Sentiment: Buy Disclosure: Held
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Open Letter to Simon Hay, page-60

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