There are geologists and there are geologist. It’s like everything in life, some people are brilliant, other people are average and then others are mediocre or worse.
I’ve been investing for a long time and I’ve come across a lot of MDs that are good geologists but very bad managers of businesses. They can do everything right but still drive a company into the ground because they put their professional interest before the interests of shareholders. As a shareholder I’m not in the businesss of funding research I want the managers of my company to identify mineral assets with real potential and manage the risks associated with exploring and developing those assets in such a way that the potential is realised without jeopardising the complete value of my equity in the company, hence my comment about getting them to work in a corner deli for 12 months to teach them the value of money. I acknowledge that the speculative junior mining end of the ASX exists to house the risk of exploration but I’ve seen far too many of these companies just blow through the dollars raised on moose pasture with the singular goal of just collecting executive salaries and superannuation and making some dollars on cheaply issued shares along the way. I’d say more than 70% of listed explorers are run by just these type of people, lifestyle managers, many of which are silver spooned geologists that have fallen out of bigger companies.
Not saying the PXX managers are these sort of people but there are many out there on ASX. Hot Copper is here to help investors come together to share their views about companies and their prospects. If you don’t like someone’s view or opinion no one is forcing you to listen to it. Put them on ignore. I’ve found it handy. Esh
