However if there was an event in Paris for corporate mismanagement and wasted opportunity, the NRZ board would have the Gold, Silver and Bronze draped around their necks on the dais.
In the race to build a urea plant, there's been some Steven Bradbury moments - Gas supply issues, global shortages, Incitec Pivot closure, 'adblue crisis' etc. However, instead of implementing and executing a game plan to win the race, the NRZ management stopped to stare at the press to get their photos taken.
It all comes down to experience and knowing how to get over the line, in Rugby League terms 'playing the 80 minutes'. Despite having the chance to bring some of the most influential and experienced members on the team to lift the company's profile, after getting their photos taken, the finish line has slowly turned into quicksand.
The Daelim partnership was a great achievement, but instead of building from this strong foundation and platform, shareholder wealth and opportunity has been squandered by arrogance, bloated egos, inexperience and nepotism.
I think at this point our greatest hope is a takeover or some serious intervention from a Daelim, India Coal or Pupuk etc. With such promise and opportunity with their competitive edge and gas extraction process, if they only put shareholder's interests first in the beginning, the rest could have fallen into place.
We're clearly out of medal contention, but let's see if they can finish the race.
NRZ Price at posting:
0.5¢ Sentiment: Buy Disclosure: Held
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