A$20 billion dollars in ground metal value?, page-18

Hi Folks,

I have not contributed anything to date on these boards. I bought Rex a while back as a ground entry play on copper. I got lucky with my entry timing, I did precious little research. I am still long.

Since then I did contact the company a couple of times, with limited success. I think the spot price needed to produce is $3.5. As my projections for copper are not to different to Friedland, that did not worry me.

What does worry me is the exorbitant amount of money that is spent on report writing, so called consultancy, and essentially sitting around waiting for things to happen. Truly eye-watering figures, I still cannot comprehend what I see in the accounts. What a cushy job to have!! That to me is a serious issue and it definitely bothers me.

I am long as I saw value in the share price and I still do not see shares as overvalued. But why management do not pay themselves less and instead (not as well) have a profit incentive scheme, I just cannot figure that out. Why would individuals be so short sighted and greedy as to want to bleed the company now rather than economise and prepare for tens or possibly hundreds of millions in rewards later? That to me suggests that they do not believe the copper price will rise to a level to make the mine economic and they are instead just sitting on an admin gravy train, and that really bugs me.