Ann: Tropicana Gold Mine - Exploration Update, page-20

Sirecho,

Yes it was just in the make believe world of the assumption set they were using. Little doubt it's going to be a good mine, and an easy hurdle on which the CEO can display superb operational skill on, and justify a higher salary with, but oh what a terrible price for the existing shareholders.

You can be sure the extra remuneration will perk Bradfords head up more than the weight of shame will lower it. Besides in these matters I believe you need to blame the board as much as CEO.

I should pay much less attention to posters who judge a company on anecdote and decades of supermarket gossip, posting glorious optimism devoid of analysis and lacking awareness of long term risk. Current CEO and some board members quite lacking in shareholder alignment and value assessment skills imho. Folk considering longer term holding should consider this imho.

I have swallowed my bitterness pill with this company, but will not exit at this low time. I expect however to be well clear before the third big M&A folly. Hopefully can exit with nickel looking better, Nova derisked (as they are operationally good) and Tropicana better displaying it's potential (as it is very early in this remote area and imho the best is to come, and keep coming). Ie I want to exit when everyone is blindly thinking like BB, but before the next big folly.

If Creasy pushes out the so very easily dupable then I might consider a very much reduced holding longer term. Must be hard supporting a CEO who you have so easily outwitted.

Hubris does it in the resources sector, you see it with Rio and BHP too, some superb bullet proof operations but then they have to go and grossly overpay for some poorly analysed folly, whether shale, aluminium, briquette plants or dodgy copper assets. Never big enough.

EL