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24/11/15
14:28
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Originally posted by jantimot
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What are they trying to achieve? All the delays occurred under WM's control, and he has now gone. PH has stated that they will finalise commissioning and be in production by the end of 2015. If he is correct, why worry about control of the company to get the process plant working, recommence mining and production? If he is wrong, then he is part of the problem and you need a strong balance (in this case the Chinese) to try to get the project into operation. After all, they have a significant amount of money already tied up in this fiasco.
The offtake agreement is already there. What does the group think they could achieve wrt to income and dividends if they have a non-Chinese board? Are their comments racist? Is Tony Wu actually Australian anyway, which gives the board three Ozzies, three Chinese and a dual nationality directors?
Did any of these shareholders enthusiastically welcome the Chinese investors on board as a stroke of WM's genius and vote for the ratification of their shareholdings and, if so, why have they changed their tune now?
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"It meant that the Board was lacking the project knowledge, the operational experience and the corporate business acumen that the former CEO provided"
This Neville Lowe bloke is a comedy genius!