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Ann: Godolphin Resources - a spin-out of Ardea's NSW tenements, page-36

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pangea

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04/07/19

18:07

Post #: 39377757
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Originally posted by ClockworkSmurf: ↑

Thanks for the interest but no- just an old painting that’s hung around for two generations now. That sure was an amusing mental image though so thanks for that too. ( no joke- it did give me a chuckle imagining a person worshipping their directors ).

Are you aware of how much of their own money the directors have put in?

Our directors are bigger shareholders than any of us in retail. They are the biggest holders full stop.

Shareholders want the company value etc to go up. If you are a shareholder then your interests generally align with exactly what the directors want as fellow holders.

They have their names and their fortunes tied to this. We as retailers only have our fortunes tied to it. Based on that I can see that they have even more motivation to make it work than I have hopes it will.

If you had more work than you could take advantage of in a reasonable amount of time what would you do with it? I’d look around for someone to sub contract that work off me or buy outright.

I really wonder if, based on the fact we holders have already been rewarded once, some of us have ever actually invested in any publicly listed company before. Decent directors cost money. Sometimes crappy ones do too but thus far what have ours done?

Managed the company cashburn well enough that we’ve reached this point without jabbing holders for more- we did raise capital but in such a way that provided existing holders with a chance at almost tripling the entry price on the related shares. That was done by the 77 cent options that could have sold for over $2 in the same calendar year.

This year we will get a chance at 10% or more via the spin off shares.

Pangea’s thinking is a bit confusing as well because none of us has to sell the shares we will receive & once Lewis Ponds ( Godolphin ), becomes its own entity it will actually be a greater hedge when viewed as part of our own personal holdings.

Is the gold tenement an effective hedge as it is now, lying mostly idle, or further along the development path? In my stock portfolio I think it will perform a hedging function best once it progresses & spinning it off is the best way to do that now.

As far as the mining junior space goes we have Directors who are in the trade/investment with us. I like that.

Cheers again for the jibe- all good fun & great to see you having sufficient interest in your holding to come join the discussion.

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Thanks CWS

That's two digs at me on the 4th of July...do you have a picture of me on your wall as well?

I'm not confused...just convinced that Ardea will want their gold tenement in NSW back when their laterite Ni-Co falls over on continued low pricing.

Another "off-the-wall-spin-me-out-picture-this-well-hung" comment by yours truly,

Happy Independence Day!

Undaunted P

ARL Price at posting: 37.0¢ Sentiment: None Disclosure: Not Held
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Ann: Godolphin Resources - a spin-out of Ardea's NSW tenements, page-36

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Ann: Godolphin Resources - a spin-out of Ardea's NSW tenements, page-36

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