www.miningmx.com | radio "Hedge book a priority for Western Areas"

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Gill Marcus, chairperson, Western Areas

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"Hedge book a priority for Western Areas" - Gill Marcus, chairperson

[miningmx.com] -- Gill Marcus, recently appointed chairperson of Western Areas, and the former deputy governor of South Africa's Reserve Bank appears focused on being answerable to shareholders of the embattled company, which has been without a chairman or chief executive since Mafika Mkwanazi and Brett Kebble stepped down from their respective posts.

"First and foremost," Marcus said, speaking on the Moneyweb Power Hour, broadcast on Radio 2000, "I think [it's a priority to] establish Western Areas as an independent stand-alone fully listed company."

Responding to analysts concerns that decisions in the company will be made in the interests of Investec, at the expense of minority shareholders, Marcus said that she was committed to working in "the interests of all shareholders."

"There would not, in my view, be a way in which I would feel comfortable at all if I was being dictated to by any particular shareholder," Marcus added, speaking on Radio 2000.

I want to draw in the people who are the best [hedging] brains

Marcus also discussed that she hopes to establish "sound processes and good governance" in the company going forward.

Marcus described getting to grips with Western Areas' hedge book as "a priority" for her. "I would want to draw in the people who I think are the best brains around how you resolve the question of the hedge book and its implications for Western Areas," Marcus said, adding that a resolution on the hedge book would enable Western Areas to take "a very different approach."

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