the ultimate lifestyle junior

Sparkler,

Not sure that the fact that BTV is receiving interest from its cash deposits has anything to do with the appropriate level of remuneration of its directors. It hides the inappropriateness of the fees, but does not justify them.

Compare BTV with A1 Minerals, who are developing a gold mine, drilling, making major new discoveries etc..., and who as a result have more than doubled in price in the last 6 months. A1 Director fees (total) for 2008 FY - $717,133, versus over $1.2 million for Batavia.

Batavia "Mining" is rather a misnomer, don't you think? It sort of implies digging, milling, drilling etc.

"Batavia Lifestyle Junior NL" may be more apt. "Ologist Super Fund"...


Directors have made it clear that "it is too early in the cycle", a view you seem to share, as you believe there aren't any bargains out there... really?

I doubt they could find a root in a woodyard.

If so, they need to cut back their expenses, and just wait until this glacial cycle reaches its nadir. (It may coincide with certain retirement ages...)


Unfortunately, the money I didn't invest in AAM and TRY last year went into BTV (please review my posting history). I think it is fair to say that these were 'bargains'. And BTV could've swallowed A1 Minerals whole at around $10m, and pocketed $4m cash, a mill, and 1moz+ of gold. (Disclosure - I still hold A1 and TRY)

But, as we know, they didn't.

And let's be honest. By their own admission, they have been looking for a project for 2 years. And yet they still say they cannot find a bargain. It matters not whether the index is at 6,800, or 3,200.

They are not fair dinkum about doing anything, because it is so profitable for them to do nothing.


In fact, Excelsior suggests SHAREHOLDERS should help by suggesting some projects for them : ) (Please review this poster's history to get a feel for his agenda - TNG, CVI...). Well, just send through the Business Class tickets, and off I go! I am willing to do WHATEVER it takes.


And on the issue of governance, how is it that BTV was buying shares on the market 2 days before a sensitive announcement like their half year results?


The only thing that surprises me about shareholders of BTV (the ones that are not associates of our friend OLOGIST) is how passively they accept such inaction and underperformance. The growth is always just over the brow of the next hill, and has always been.

These guys missed making any profits during the last mineral boom. And they will likely miss the boat on the (already begun) gold boom.