Ann: Andromeda and Minotaur to Combine, page-277

Long time stalker here, first post ever on ADN thread - so please go easy on me. I’ve read a lot of the long term holders and their musings for a long time, and thank them for all the knowledgeable posts - it has taught me a lot. My background is in the Mining Industry, been at a senior level for a number of years now. What I can say is there’s some chatter on the thread today advocating for a “big boy” to take us over. News flash - I deal with the tier one miners in WA, and I can tell you it’ll probably take even longer for the DFS to be released with these guys at the helm.

The number of design changes mid project, or hold points due to someone up the chain having a light bulb moment is mind boggling. The big boys aren’t nimble, they have too much process and often internal role changes it can be a massive hindrance. The key I’ve found to making a good business is having easily defined repeatable process, decisiveness and critically focus focus focus. Generally big miners lack this focus and decisions take too long, plus you get guys on a contract to execute a project. In lean times they drag the job out for as long as possible so they can keep collecting a pay cheque.

The announcement today for me removes what could have been a massive distraction from the table, and both parties needed to feel the deal was fair. Like ADN how would MEP holders react to a crappy deal? And remember Australia is a small industry, imagine the board of MEP trying to get a gig elsewhere after shafting their own holders in a poorly negotiated deal - they wouldn’t be unemployable, but tough getting another job I’m sure. So everyone needed to save some face……

I won’t defend the indefensible, we are getting to the pointy end of things now. Bulking up the board with the right people is becoming critical as we transition. I do hope the guys out of their depth and lacking experience will realise it’s a perfect time to part ways - “a man’s gots to know his limitations” as they say.

We also don’t know how much time this stuff was taking up behind the scenes. For all we know this had become the “focus” in all the wrong places for the last few months, and yes news flow has become unusually slow of late - perhaps now we know why. With the hurdle and distraction removed it’s time to move forward. Nothing we post here will change the outcome. It’s a bit like a HR issue at work, it takes up so much of everyone’s time - and adds ZERO value to the organisation.

Sorry for the long post, hope it hasn’t bored too many people.