the past 5 days

Thursday morning came as a shock to each and all of us.

Personally, I had formed an opinion that a cornerstone investor-type-situation could be announced at any time...BUT...the sheer scale of this left me stunned.

Initally the HC boards where curiously debating the pro's and cons but it didnt take long for things to get very heated and emotional.

Late last week and into yesterday, volatility ran high and short-sellers scrambled to take their share of the spoils (some even let their HC agendas slip)

AS the dust settles on our initial reactions, we ALL have some thinking to do and decisions to make.

Read below for some interesting (and contrasting) views collected over the last couple of days............

HATCH WROTE
What if over the next 2 years we get our gold spike, but we have only proven and developed 25% of our reserves\resource.

At least this way we have more security and certainty to now know we will get a 50% cut while producing at 100% of our reserves\resource.

isn't the name of the game to get it all up and out while the price is high.

CW WROTE
In this universe money is energy. People with it can achieve large goals. People without money are dreaming they will get there and might but this is the difference. We can land in the former camp - with energy. The more I think about it the more I like it.

STUMPY WROTE
F&B - acquisition doesn't necessarily have to be tenements or operations. I for one would love to see a mill near Coolgardie and another near the mount/TI added to the inventory. We have oodles of 2g/t+ resources as it stands and obviously more will be proved up with this cash injection. What we don't have is spare capacity (other than barnicoat)
And…
- acquisition doesn't necessarily have to be tenements or operations. I for one would love to see a mill near Coolgardie and another near the mount/TI added to the inventory. We have oodles of 2g/t+ resources as it stands and obviously more will be proved up with this cash injection. What we don't have is spare capacity (other than barnicoat
And
In the end the short term SP means nothing. Only after December 4 will we get a true reflection. The control element is a gamble, but if it means unlocking it all now versus waiting years, well why not.

BIZZBOY WROTE
It is impossible to believe the 51% is anything other than the result of us being bent over a barrel and in desperate need of a big pair of braces to prevent our metaphorical pants falling down and exposing us to a nasty end.....

JUMPTART WROTE
Rejigged I am suggesting "The art (of war) of maximising repatriation and liberation of gold to China consists in so plucking the goose as to obtain the largest possible amount of feathers with the smallest possible amount of hissing"

Anything I read or see will be through this prism and no other.

MARYKEGEORGE WROTE
if they state that they won't exert undue control then why didn't focus strike a deal for say 30-40% of the shareholding. i am sure that would still raise sufficient funds (maybe even ensure that they were spent more prudently), make shareholders feel a bit more easy (and help to get it passed) and help to progress development faster than at present.

after all if they aren't going to exert any control then there is no reason for 51% controlling interest.
And….
we still have time to assess things further before any vote but i think the board needs to be much more up front with us on the details which we are not yet aware of.
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Thanks to all for above words.


We have some VERY good posters on these threads and we have been split right down the middle on this one. Of particular interest for me was the way 2 of the posters I respect ENORMOUSLY (Fitnfam & Pinto) have formed vastly differing views.

This tells me one thing..WE CAN'T BE 100% RIGHT OR 100% WRONG. You may think our BOD have been incompetent, you may think SD have alterior motives.

There is no denying that this deal has been cut by 2 paries who both care about this company and it's assets.

I have done lots of thinking and will at this stage stick with my initial feelings and support the vote. I want to make it clear that I would have preferred a 30% stake for 140-150M but I need to vote YES or NO and thats where I am right now.

imo our projects and resources are too good to leave behind. I like the idea of aggressive exploration and increased production capacity...MILLS & DRILLS for mine. Of course I still wait to read DT letter and obviously review Q report.

One more thing...I have noticed lots of posters keen to hear from CW over the last few days. Just remember he is a guy who makes his decisions based on facts and I would suggest that he is doing just that (chasing info & digesting facts). He has provided a number of posts that indicate he is leaning towards support at this stage.

BRING ON CHAIRMANS LETTER

Couchy