vale agreement - clarification, page-52

Final word...... and last post too :) promise

OK... The $1m progress payment is NOT a "debt" of course... even although for purposes of making a point I have called it that.

If Vale don't feel inclined to pay it, they don't have to. They would say "no probs we are in default. So the Agreement is void and we walk away. We only volunteer the money if we choose to extend another year and we don't " .... then they will come back when they are ready to talk, whenever that may be... and I am sure TP will have the coffee pot on, and will not charge for the coffee either.

So if I were Vale I would almost certainly not bother with payment, as there is no more drilling happening.
Also if I were AVB I would not press the matter.... gentlemans agreement sort of..... knowing what I do now!!! The near full story finally. Which I did NOT before, and took some personal trauma to uncover.

It is.. one of those things :) I brought some pressure to bear through posts etc and the real story has floated to the top for me, at some cost.

I still maintain AVB is in a strong position to bargain.... but how they do it is their business.
No reply to my email enquiry does not trouble me at all. After all everyone is... busy.

My complaint is the fact that I have had to be at HC, and the AGM to find the truth. Otherwise I would be a shareholder who expected every day to see $1m deposited or a deal struck. The Presentation gives no indication that major delays are expected.

Now, the Directors were open and honest about it at the AGM. Candid. Frank and Earnest etc

They could have said no comment as I expected, all is secret, but they chose not to. Then they were caned for that by ME especially... because I had to find the story through friends. Hardly dignified.

It seems unfair. You disclose, to show how open AVB management is, keep people informed, and you get criticised. You cannot win. You lose either way...sort of.

Fair? That word.

No it isn't but that is why you pay heaps to top guys like MW, SM,CJ and TP.... to shrug such incidental things off. Directors stay candid which is the first step in gaining trust always...

Lose-lose situations like this I am sure are nothing new to MW and SM. But a footnote in the next announcement to indicate to OTHER shareholders that delays are being experienced due to circumstances beyond their control would be very nice.

I think that Ends that thread... happily. :))

It is the strong coffee that is causing posts.... will keep quiet now! :)