Dr Giles is well liked on these forums and usually escapes most the criticism we have for the directors but the current downward spiral began when he decided to go into gold mining with no idea what he was doing. He didn't hire anyone who could help them properly plan and run a gold mine, Dr Giles just went about it with a 'we'll figure it out as we go' approach.
Ultimately all we achieved from that mine was management got paid for a couple of years and the shareholders ended up with the tailings, a processing plant and the mine infrastructure. All of that and the Portia mine itself and the Nth Portia resource is now in the hands of Dr Giles good mate Radford and we have only had $1 million paid to us for it over the last 7 months.
And to rub salt in the wound we even paid Stewart $65,000 to oversee an agreement that let CMC delay the permitting whenever they choose to and so in turn delay the payments. This deal is so unbelievably bad for HAV shareholders and so incredible good for CMC that it should be investigated by ASIC for any behind the scenes illegal dealings.
HAV Price at posting:
16.5¢ Sentiment: None Disclosure: Held
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