There is no end to the examples of how poorly this company's senior management allocates shareholder capital.
A very short period after they plough $4.4bn into a business, they put it into caretaker mode.
Even if they subscribed, at a cost of a mere few hundred dollars a year, to a few nickel industry magazines they would have come across article after article detailing how aggressively other participants in the global nickel industry were rapidly ramping up new, low-cost capacity.
I mean, competing effectively against global competitors, in markets for fungible commodity goods, is a core management KPI.
But, evidently, generating an acceptable financial return on the billions of dollars poured into NickelWest was a subordinate consideration, compared to advertising the company's de-carbonisation credentials.
Absolute muppets.
.
BHP Price at posting:
$43.56 Sentiment: None Disclosure: Not Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)