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rosencrantz

2,786 Posts.

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23/11/17

15:23

Post #: 29061576
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Originally posted by riverred ↑

Hi all, these are the sort of nuggets of info atomic releases to us every now and then that I appreciate: "...inherited a lot of at mine problems (haul roads, spare parts, poor benchs, flooding, insufficient grade drilling, no exploration drilling, a mill incorrectly put together for godsake...etc...etc) financial problems..."

In just reading from SJ's qtrly reports, we would not get the full extent of difficulty in the operational challenge he has undertaken to meet. That's because for SJ at the CEO level, it would be seen as poor form to provide all the gory details which could then be misconstrued as bitching and complaining rather than getting on with the tasks at hand. So he needed to tone it down.

But a telephone conversation is not the same as a published qtrly report. My guess is that when atomic or other significant shareholders frequently conversed with SJ, they undoubtedly asked some probing questions and extracted an innocuous clarifying detail here and there. Nothing much on its own but when each dot is joined, these are enough to form a clearer picture of what's really happening at the mines. Do note that SJ didn't disclose info not already given to other shareholders.

Why do I make such a guess? Because I have liaised with government depts to seek clarification on public pronouncements and I see the process as very similar; their hands are bound and their mouths are gagged but you can still get an interesting answer if you know what to ask. Calling up with all guns blazing is not the way.

So when well-meaning long-term holders such as atomic post their bit, I compare their info with what I've acquired independently and then assess whether there is consistency or contradiction in the combined picture, etc... It is all up to me whether to accept, reject or revise because I am responsible for my own investment portfolio.

My apologies for the lengthy post. I'll finish with another nugget from atomic: "...if you had 2 years to get it turned around and up running well, you would count yourself as very successful in the business world... finally there is light at the end of the tunnel...everthing is coming together..."

SJ and team have been slogging away for two years now. So this is something that each of us has to decide for ourselves: are we hopeful or are we skeptical? And what is the price to pay for either option? Whichever our decision, shooting or blaming the messenger is irrelevant. All the best, folks. Cheers. R.

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""....contradiction in the combined picture""

So when the Chairman refers at the AGM to 2017 being Beadell's Transformation year ..what does he mean?

BDR Price at posting: 18.5¢ Sentiment: None Disclosure: Held
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