Just perusing October announcements/reports for Northern Star v Tribune
Some key side-by-side observations are
NORTHERN STAR
- Increasing Costs
- Diminishing Reserves
- Overseas Operations - POGO is a disaster with with failure to reach forecasts and more bad news to follow
- Executive Chairman - $2.23M + $2.9M in performance rights = $5.5M (this is astonishing but in 2008 it was $7.4M!!!)
- Insider Trading - Executive Chairman stockholding has reduced 70% in the last 3 years
- Revenue Growth - 2018 Y-O-Y 11% (I forecast this to be negative in 2019 with POGO downside)
- Market Performance - 1 Year 17.5%
- Share Price - increasing volatility (IMHO overvalued)
TRIBUNE
- Diminishing Costs (- except at the EKJV where their partner NST have inserted themselves as the Mining Contractor)
- Increasing Reserves
- Overseas Operations - Africa and the Philippines are very underrated deposits. TBR just need to navigate the political landscape to make massive shareholder returns (IMHO)
- Executive Director - $383K (must be a record low for a performing stock on the ASX)
- Insider Trading - Executive Director stockholding remains steady
- Revenue Growth - 2018 Y-O-Y 32%
- Market Performance - 1 Year 52.4%
- Share Price - low volatility (IMHO undervalued)
Why does the market treat NST as a darling and TBR gets very little attention. Is this the result of simple PR and marketing? From where I sit I see TBR as an organisation that adheres to fundamentals of business - simply reduce costs, and maximise profits.
With the US-China divide, for me, Gold is the historical safe haven to retreat to. I am considering taking a holding in TBR as I feel confident they have a low downside due to such cost controls. Am I missing something?
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Am I missing something??
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