shame on you, page-90

There is a lot of chatter on this thread, but not a lot of substance. The only one making any sense is Bas.

Have any of you guys heard about assignment or novation of contractual obligations?? If not, then go do some research.

In basic terms, HAW owns Mt Bevan and still owns Mt Bevan. They have enterred into a commercial arrangement with LCY where LCY has to expend a certain amount of money over a fixed period to earn a 60% stake in Mt Bevan. Until this obligation is met, the asset remains the property of HAW. As such, any change to the ownership of LCY may potentially affect the obligations/ commitments LCY made to HAW. If there is no ability to novate or assign the contractual commitments to another entity, then LCY may be changing the terms of the agreement with HAW.

In this case, HAW has every right to require LCY to provide market sensitive information relating to "their" asset. If NDMC have valued Mt Bevan based on a new set of assumptions, then logically, the asset owner is obligated to keep its investors updated on material issues that may impact their share price.

You LCY shareholders need to understand the asset is not yours until you deliver on your contractual obligations - end of story!!