I guess you're right as far as internal financing goes. 85k ounces at net $800 an ounce will generate $68 million. Even at $600 an ounce clear will generate enough per year for their planned capex over the next 2 years.

My question is the shareholder's rights plan has got to figure in to any takeover scenario and without Goodman's shares, it would be near impossible. Would it also not be a conflict of interest given Goodman's and Pirie's past? Maybe this is why George doesn't own any shares. He knows his boss is up to something and doesn't want to appear to benefit in any way other than a paycheque.

George not owning shares doesn't pass the smell test. If he doesn't own any shares by the AGM, he should be shown the door. His track record is awful and as far as I'm concerned he's towing the Goodman line and will deflect any criticism to a revised mine plan. How the rest of the BOD doesn't see this is beyond me.

I would welcome a major change. I don't care what at this point.