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Rubiconis

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31/05/24

15:59

Post #: 74107036
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Originally posted by Rubiconis: ↑

Honestly, I think it's too late now mate, don't you? Not that it matters for RH...he gets paid $500k regardless of the share performance, right? Which been abysmal for the years of his tenure. Am I wrong?

In retrospect, as I see it now...the only opportunity to do something truly positive, and constructive for this company, ended in Jan 2022. When RH made the fateful, and bizarre, decision (yes, he actually did this...as chairman of a mine developer...I know, it's incredible!), to walk away from Mark McGowan's offer of a WA uranium mining permit.

In my view, everything RH has done since, or said since, has been to try and make up for this mistake. But, now it's too late, no? Our one and only asset is now frozen in the uranium minin ban, and our share price reflects that.

I think, perhaps, RH was just out of his depth, looking back on it? It's one of the most bizarre, and extreme cases of poor risk management, and judgement, I've seen as an ASX junior mining investor.

Look, I doubt Roger Cook will ever change his mind about the uranium ban. Even the all-powerful, Mark McGowan, was beholden to the green preference vote. What power does a weakling like Roger have to take on the greens and the left of his own party, when McGowan couldn't?

It is very possible that RH may have destroyed the fortunes of this company, in a lasting way. If we had Mike Young as chairman, thing would be completely different right now.

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The only caveat to my point above, about how unlikely it is for Roger Cook to risk taking on the green prefetence vote & the left of his own party, when even the great Mark McGowan couldn't do it, is economics.

I can only hope that the economic benefit of uranium mining to the state's coffers, becomes enough of a compelling reason to give Roger the courage for change.

Can I see that happening before the election? No way.

TOE Price at posting: 34.0¢ Sentiment: Hold Disclosure: Held
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