laurence freedmon

on 31/8/08 this article in the age gives a little insight into laurence freedmons outlook and investing strategy for the coming years.looks like this guy fits in well with where prr are at and to have him as a long term shareholder with his background and connections can only be a major positive for prr.

here is the link :http://www.theage.com.au/news/planning/choosing-the-pick-of-the-crop/2008/08/30/1219516773604.html


'I can sleep at night'

Meet an investor with an eye for 'green' stocks.

SMALL is big for Laurence Freedman, a former fund manager who alongside his charitable Freedman Foundation has a private portfolio of stocks.

He won't touch the banks - "the financial system is in a gargantuan mess" - or media stocks, despite his multimillion-dollar success from an earlier holding in Channel Ten, where he was also a director.

These days a stock has to be clean, green and keen.

"I am investing in discovery rather than established companies. That's where the biggest jump in share price can come," Freedman said.

His horizon is at least two years and he's investing in what he calls "cleantech", health and resources (mainly gold and oil).

If he's right about the financial sector then gold will take off or maybe "one of my stocks finds a cure for cancer and another cleans up the planet - one out of three will suffice," he jokes.

All his shares boast good to outstanding management, professional and qualified board members and no debt.

One of Laurence's cleantech stocks is Phoslock (ASX code PHK), which in global trials has turned phosphate pollutants in water into mud that drops to the bottom, preventing algae growth.

Aeris Environmental (AEI) has an environmentally friendly way of removing bacteria and mould that builds up in air-conditioning, cold storage and other systems and protects them from recontamination.

His health stocks include Bionomics (BNO), with its range of potential blockbuster drugs against multiple sclerosis, anxiety and cancer.

"It has an outstanding scientific staff and board with no debt and some $6 million in cash," he said.

Alchemia (ACL) is sitting on $20 million cash and has two lead products "nearing key commercialisation milestones".

And Polartechnics (PLT) has developed a cervical cancer detector which could replace pap smears but has faced production difficulties.

His gold stocks are discovering, not producing, "so they have no cost overruns, no hedging mistakes and are regularly adding value by their drilling results".

Carrick Gold (CRK) is drilling some four million ounces close to the substantial mining infrastructure of Kalgoorlie, while Golden Tiger (GTX) has had "encouraging high-grade rock sample gold and silver results" in China.

Freedman's energy stocks include Lakes Oil (LKO) and Elk Petroleum (ELK), a small producer which has an estimated 60 million barrels of oil in an existing but non-producing oilfield.

Unfortunately for Freedman, his stocks have "generally performed as badly as everything else. But I can sleep at night knowing they have good management and exciting possibilities."