power to the people, page-4

Kiwoz

Only trouble with an outsider bidding is they will want similar to Toll et al - and understandably so

Myself, I.d be more inclined to favour something like Oly is proposing - we need someone who already has skin in the game and wants to see the job completed.

HNC has already stumped up big bucks - entered a JV with an Aussie company run by a mob who unbeknowns to us DIDNT EVEN HAVE THE BLOODY ENGINEERING DESIGN COMPLETED OR CONSTRUCTION PLANS FINISHED before starting - from all accounts they still weren't finished when the thing was put into admin for God's sake

While not trying to sound naive - as I see it HNC has much skin in the game and would without doubt be embarrassed by being so foolish to enter the JV with such a mob of buffoons and being stuck there to a large degree because the Operations Committees formed to manage the three JV's (oxides/sulhides/exploration) have three members from each camp but CMR has the casting vote in a deadlock so HNC seem to have signed up to a jv in which they had little sway over decisions

If you think back in 2005/6 when the JV was being negotiated it was early days wrt JVs with the Chinese so while they signe dup for it back then I expect they too will have learned a lot since then

I would much prefer something like Oly put forward or something lie the original DOCA HNC tried to advance but was blocked by Ferrier Hodgson, YAG and Toll

I may be naieve but I suspect HNC would want to see ths show back on the road absent the blokes who got us into this mess. They/thier parent company probably have the funds to do it and they would prob have the technical ability to do it (cant be any worse that the twits we had)

If we can arrange a deal where n return for fixing the plant and getting it working they get to run the show as opertors and get a larger percentage of metals produced and we straight away start earning a percentage of profits - wel that would be somethign we would need to consider seriously. Alternativly if we could work something like the DOCA they proposed previously where they fund all and CMR's share of profits go towards paying back over a set period it would be somethign we would need to look at also

Somehow I think I would prefer the first option- then we install a board who PUT SHAREHOLDERS FIRST and try to take the company forward with the hundreds of millions of dollars profit that would be going to Toll and YAG if todays proposal had got thru

I dunno - lots of details to work out - but think I would much prefer to deal with HNC than than another outsider and to be frank - at this stage I dont even want to hear from YAG or Toll ever again - but just thinking out loud and watching the clock for beeroclock