MGT share price, page-7121

g’day Stocki.
thanks for that. I appreciate hearing about management. I’ve been investing for over 30 years and I’ve made most money from companies with high quality management. Lost most money on those with average/poor management. So this is a big tick for me and the way I look at stocks.
one note of caution, is that I continue to critically assess management as we go. They can and do change sometimes. I started in OXR at 7c, it peaked around $4.50 from memory. The board and OH were famous at the time for saying “stronger for longer” when talking about the copper price. They needed $1b to finish prominent hill. At this stage their mantra became “stronger for ever”. They bought Pasminco who had that $1b in cash. Top of the base metal cycle. Zinc crashed, so did copper. OXR bottomed at 63c and is now Oz minerals. They could easily have had a 1:5 right issue at $4. They would have been swamped. But no, they knew better. This is the same management that brilliantly built a $6 billion company from scratch. But they got carried away with their own success. For anyone interested, here’s the story: https://www.crikey.com.au/2008/11/20/the-oz-minerals-dream-is-turning-into-a-nightmare/
so anytime one of my investments makes a major decision, I redo my DD.

so far, MGT management have indeed performed very well and I expect they will continue to do so. But I will be watching closely. Apart from the obvious, I like MGT as it will make money at the inevitable bottom of the cycle. This is a long term investment and I’m confident of many more bags to come in the years ahead. Patience as always with resource stocks.

dirty night on wall st, so we might get a chance to top up with some cheapies next week.

have a good weekend all.

cheers,

ned, happy after the cats scraped home.