This is beginning to cause me some concern, and I can only see three possible explanations,
1. The project has encountered a hurdle such as ast has mentioned previously regarding capex, opex, or although denied, environmental/first nation,rendering the project unviable in the current market conditions just like Selwyn Resources.
2. Loss of confidence in management due to there eye being taken off the ball with the Anyox debacle or just simply, way to much time being spent on the permuting process resulting in pushing out the production date from the initial 2014 date. Question in regards to no 2, why did that director Sias Els depart all of a sudden, ? who incidentally is still listed as a director.
Must be very busy Hugh, web page hasn't been updated for a while
Most likely scenario
3. Is being set up for an opportunistic T/O with I dare say Glencore being a partied too. Possibly from IBG as they are currently on the hunt and have also Glencore as a major, but then again now that I think of it, IBG have stated they are after near term production which OVR are some time off.
The reason I say no 3 most likely is because of the recent substantial holding increases from the following,
Noble 26/04/12
SFW 12/03/12
MQG 24/02/12
You can't tell me that the likes of MQG and co wouldn't have had an in-depth briefing from management before increasing there holding especially since the SP was under huge pressure prior.
And on a side note, why have all archived ASX announcement been made unavailable?
If there is nothing up then surely common sense would tell Hugh to re assure the market and put it on record that he doesn't know why the SP is under so much continual pressure.
"NOT HAPPY HUGH"
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- time to come clean hugh
time to come clean hugh
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