Righto, so I thought I'd do a bit of digging around to see what's gotten
@norm into a frenzy.
It seems, based on the gist of his posts that he is very sold on the idea that a project is only as good as its management - there are quite a few threads in his history to prove this.
He is a prospector who apparently (based on his words, not mine) gets thrill out the hunt and doen't much care about who gets the kill.
In this post:
https://hotcopper.com.au/posts/14257007/single , he talks about ousting Arafura management (a massive REE producer in the making with a post-tax NPV
8 of approx 1.4 billion and annual EBITDA of approx 360 million) and says:
"
This letter is exactly what is wrong with this company and management. They are MORIBUND when it comes to understanding changes in the market and taking appropriate and timely action. The H/O cash burn along with profligate spending practices needed to and should have been instituted at the start of the GFC not many years later. To say they have been responsible and frozen wages at 2013 demonstrates just how our of contact they really are. Real salaries and expenses have dropped dramatically in the mining industry since then but have they renegotiated their pay scales down to current realistic levels? NO they continue to keep milking the Company for all they can get. Be sure to Vote against these unsustainable salary and expense levels at the coming AGM. Regards to all. Norm"
So, our man is no stranger to the effects of large pay scales coupled with bad management and its effect on share price.
Wonder what's gotten him so worked up about TNG where its literally an identical situation if not worse and large pay scales of management is only the tip of the iceberg!
