personal gorm review for anyone interested , page-13

Been wondering about that for some time Cat and dont really think so, but then again, not to say one cant take (seeming) advantage of any "unexpected" global events.

Board was 2 years over in scheduled start-up and about 200% over in capex estimates ........ and combo with total disregard and later denial of emerging market macros, coupled with inability to react FAST to the fast moving macros deterioration .... or better still, proactively with any serious vision.

Thats the cause of our woes (and many others' in the XRA ..... but we have never found out to this day why and what exactly happened.

But the oxides plant should NEVER have been allowed to soak up so much capex, wipe out our cash reserves and even put us into dilutionary debt. So Qs are, when was it known it would be a fizzler and why not shelved at that time .... tho suspect Oz work contract system with penalties and such would have been the main reason.

And at last AGM we were asked to accept the comment lets ignore the obvious needs of promotion and sweep the past under the carpet and instead look to a brighter future ..... ha ..... CMR price has fallen 90% since !

Seems to me that GT has laid his on the front line and C-note at 42c fixed to AUD/USD rate under the circumstances is a lifeline. Wonder how much more we'll need tho to hold together thru the current global conspiracy of demolition derby on commodity prices to keep the FINANCIALS alive .......its dog eat dog out there atm but u KNOW who the ultimate winners are gonna be ...... but they gotta SURVIVE the storm meantime.

Yesterday's selling was IMO stoploss thru the VIP 19c baseline and needs T+3 for mine to confirm. If so will personally be assessing at what lower price do I begin to add to my significant residual holding (maybe) ..... but thats personal .... and first need to CONFIDENTLY establish when / what / how/ why oxides plant should go into C+M and what our means of repaying C-note commitments. Main prob with that is in the case of decision to shelve, any winding down of a workforce u have just entered into work contracts with.

So many mistakes and so much lack of ongoing disclosure it is difficult to have any confidence in the resurrection of OUR positions to any acceptable extent .... so much so that we are now HOPING HNC take us over to end the misery !

I still suspect an AII-style move ahead but HNC's own position has also deteriorated with all others I suspect, so they wouldnt be in a hurry in current metals "B" primary retrace wave. Then again their RMB/AUD buying power has increased by 40%.

The next half year will have as priority SURVIVAL of the global MATRIX viz financials, property, equity, bond and USD markets.

EVERY mining and other board is under pressure atm. Even so, should be a fiery EGM coming up with Cuzo bringing his brickmaker mates haha (try laughing with "broken ribs" haha).

IMBOOC

PS USD latest CAD/GDP = 6.7% Thats moving into panic stations. Recon Oz's is worse coming up and will be a weight on the AUD.