Just how big companies loose their mojo

Interesting to read that the independent expert has indicated that NST is paying far too much for DEG

too late to learn that, but surprise surprise … that asset was flogged everywhere around the world, to the biggest and best gold miners first … and they weren’t interested

NST has a board that may look nice on paper but is probably more focussed on trying to stay the biggest gold miner in the sector, which means ounces produced, market capitalisation etc etc … but not so focussed about comparative shareholder returns in the longer term

Buying a big challenging long grade hard rock development asset of this nature, that still needs building and then commissioning, during the period we are coming into this high part of the gold cycle and this low part of the $US/$A cycle … feels dumber than dumb to me too

NST will no doubt stay a large player in the sector, but there has to be better companies to look at owning and/or maybe consider buying the physical metal instead for safer performance on gold … as I predict there will be plenty of problems building and cranking up DEG

i would have rather seen them buy Goldfields assets, or something with less risk.

Imho … The really smart technical and entrepreneurial guys left that company a few years ago (follow performances of GMD. BGL, OBM, Spartan etc)