AUR 0.00% 0.7¢ auris minerals limited

Ann: Wodger Drilling Update-Strong Visible Copper Mineralisation, page-25

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  1. BBV
    1,699 Posts.
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    "MLX did RNI a real favour in buying Fortnum"

    Only on the basis that the next stop for RNI was corporate oblivion Shady.

    Their inability to manage debt and secure interest/funding in Fortnum was a massive missed opportunity which MLX/WGX subsequently picked up for a song and will almost certainly convert in to genuine long term value for the benefit of their shareholders in my opinion.

    Still very interested to know more detail on the so called "Legacy Issues" which potentially played a part in above in my view.

    Cant do much about the weather impact and the landscape is littered with costly CapEx programmes that don't always go to plan but you can comfortably assume that provisional sums would have been very much part of their approach to cover such unknowns.

    The POG alone tells us all that it was the right call by MLX and the combined market caps of MLX and WGC now versus then confirms their call beyond any reasonable doubt.

    I thought it appropriate to bring a modicum of balance to the discussion and your recurring view about Fortnum.

    Anyway, you'll most likely tell me to "move on, that's history".

    But unfortunately, that specific history has gone a long way towards wiping out almost all of my 6 year investment in RNI so it is a sensitive matter for me which I hope you will understand.
 
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