Tricha,You miss the point, this isn't nickel. This isn't about...

Tricha,

You miss the point, this isn't nickel. This isn't about ever increasing divi's.

80% of asx oilers are mostly ABOUT staff/management costs and placement fees etc, they are definitely not about avoiding/minimising them, or about rewarding shareholders. There is no pretence, just look at how few have ever paid, ever will pay a dividend, or would ever even countenance it.

Fortunately there is also a little bit about ego's, so if you attach yourself to an oiler with a big smart ego embedded, but no divi's, you just might get capital appreciation. It has been pretty rare though. Imo Eric has a big ego.

I do put ARQ (and AWE) in the 20% that are not just about staff/management costs, the serious few. Also I note Eric has a fair shareholding stake, as do some of his management.

The rabble, well as much rationalisation as you do, more of these weeds will sprout, so long as there are suckers prepared to water their IPOs and placements and reward their promoters. Meanwhile plenty of money in West Perth restuaranteering! Few have the reserves worth consolidating, starvation is probably the only likely means of extermination.

EL