Funny you mention that Phil,Apparently one of the leading gold...

Funny you mention that Phil,

Apparently one of the leading gold analysts (Sydney based) believes that NCM might have a crack at LHG to help dilute the impact of their crappy hedgebook, especially since LHG wiped theirs clean.

Just a theory and nothing more.

Back on the RSG issue, I have just sent the following email to Greg Fitzgerald (the company secretary of RSG) :

Hi Greg

I have been a shareholder in RSG for over 7 years now, and obviously I am very disappointed with the performance of RSG over the last 4 years, especially with the way Ravenswood has turned out, on top of other issues such as a woeful hedgebook. It is clear that the current board has a lot to answer for, and should be held accountable.

However, I am most disappointed in the way the board has been so dismissive of David Guy. His interests are more clearly aligned with the rest of the minority shareholders, and he would make a very valuable non-exec director with a strong financial markets background, and it is questionable to what extent the others are truly independent given the checked background of the major shareholder in RSG.

It is my intention to vote for David Guy, and I have spoken to some of my peers who all feel just as strongly as I do on this matter, and will be doing the same. I truly hope that the RSG board gets the message clear from the minority shareholders as it is highly likely that the vast majority of us will be sending our message loud and clear, even though we are likely to be defeated due to Duncan Saville's position and his allegiances.

I have been a loyal shareholder, but my patience has been tested for too long. If David Guy does not get on the board even if the message has been made clear by the minority shareholders, and the current board and management continues to bumble along, RSG's market discount will widen further, and lose any remaining shareholder loyalty, as we give up and try to recoup our lost opportunities by investing in the more progressive gold companies such as PNA, OXR, LHG, SGX, DOM, etc instead. I hope it does not come to this, as I believe there is so much latent value just waiting to be unlocked by a more effective board.


Regards