posco , page-13

As a long term holder, I certainly share the frustration of all posters on this thread. And I agree that DH needs to bear responsibility for his inability to get a deal done by now. But I think we should remember that DH was prepared to take a big risk in insisting that GUN retained majority control - a strong negotiating position for a small company with no operational projects and nowhere near enough money to get this big project off the ground. He had been messed around by some Chinese tyre kickers, and with an increasing zircon price, plus increasing demand, he probably thought it worth the risk of turning off some potential partners. Sure, it hasn't worked out the way he hoped, or we hoped, but let's not be too critical of him "having a go".
That said, times have changed, mkt conditions mean that GUN is no longer able to dictate terms. It will be a real test of the negotiating ability of DH and his team whether they can take this setback on the chin, lower their short term expectations and still get some sort of a deal over the line - if not, the share price is headed back to 4 - 5c, not a very palatable thought but that's where long term support lies. Shareholders come & go, so do company managements, but the charts don't lie.