DDzx, he may have been enlisted to advise on how best to take a stranded deposit to market and create cash flow. I am constantly amazed at how this aspect of the iron ore business is discounted by people fixated on the size of a deposit. It seems to rank ahead of things such as:
- macro factors that may affect the IO market in the coming years
- project economics
- dilution via caital raisings to fund more drilling
- haematite vs magnatite (the later being inferior)
- quality management
- rail & port access
- sovereign risk
Mike has done a stellar job at BCI and if you feel that WGO torched money by paying him then you are quite hard to please in my opinion.
I have a small holding in WGO yet am not fussed about BCI getting involved over there...not yet anyway.
mike young resigns as director of wgo, page-8
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