Ann: Drilling Program Commences at Mt Cobalt, page-51

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ShanghaiBobby

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23/03/19

11:20

Post #: 37860888
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Originally posted by BoroBoyinoz: ↑

The name of our company is Australian Tin Mining, so I am possibly naively assuming that the main business of our company is mining Tin in Australia.

If the main focus of our company is mining Tin in Australia, then our main focus should be Granville and then Taronga.

In the words of Warren Buffett

When you are invested in a business with a strong competitive advantage, management should be strengthening that competitive advantage, not venturing out on unrelated projects.
“Loss of focus is what most worries Charlie and me when we contemplate investing in businesses that in general look outstanding. All too often, we’ve seen value stagnate in the presence of hubris or of boredom that caused the attention of managers to wander.”
Managements wander when they get bored. Acquisitions and large business deals typically raise management’s collective pulse – even if the deal is not particularly attractive.
“Talking to Time Magazine a few years back, Peter Drucker got to the heart of things: ‘I will tell you a secret: Dealmaking beats working. Dealmaking is exciting and fun, and working is grubby. Running anything is primarily an enormous amount of grubby detail work . . . dealmaking is romantic, sexy. That’s why you have deals that make no sense.’”

TO PARAPHRASE

STOP FARTING AROUND AND SELL SOME F*&ÎNG TIN

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Warren Buffett doesn't invest in rubbish companies like this, so it's inappropriate to quote him for ANW.

Tbh, I see my holdings in ANW and wonder to myself whether I'm masochistic...

ANW Price at posting: 1.4¢ Sentiment: None Disclosure: Held
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Ann: Drilling Program Commences at Mt Cobalt, page-51

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