Not a bad presentation as far as delivery. As far as content goes it was like watching a kid who had been put up a year and was telling all the older kids about his new toys at show and tell, but wasn’t quite sure how the toys worked or what exactly to do with them, but just that they are really good. Red dog sounds good but red october – waltzing in there with his newly hired underground geologist and mining contractor and profitably mining 20,000oz seems a bit too easy.
The omission entirely of the $3m debt from slides or verbally, that is always included by companies in these types of presentations continues to worry.
The classic comment was when Paul says they were one of the only miners to return something to shareholders, in the form of 10% bonus shares. His reply to his own rhetorical question about why they did this, “that some criticised”, was “why not!”. I certainly get the feeling he is a go getter with enthusiasm but I'm not sure he “gets it" enough to create the value he keeps talking about
MAT Price at posting:
18.0¢ Sentiment: Sell Disclosure: Not Held
