I agree Howard Klein isn’t the sharpest mind around commenting...

I agree Howard Klein isn’t the sharpest mind around commenting on this space in my view . Rodney Hooper his partner in crime is lot more savvy and does try and spend the time to dig into the numbers .?

Howard really annoyed me a year or so back by telling Pilbara they shouldn’t pay a dividend but plow all their excess cash back into M & A . So glad Dale Henderson ignored his advice . Howard is the typical ex Wall Street type who thinks it’s all just about m&a deals , which I am sure is the result of his “ skinnerian” conditioning from his time there and while it makes the fat cats on Wall Street richer often these deals deliver questionable value to mum and dad investors .

When a firm strikes good success and achieves high cashflow after years being in start up mode and giving nothing back to its shareholders , it is actually the right thing and I would argue moral thing to do to start getting in the habit of paying something back as a dividend . It’s the the whole reason you develop a resource , these resources aren’t developed just to make consultants and mgt teams rich .

So often seen companies endlessly chasing m&a results in huge waste of shareholder money . I am not against m&a , definitely has its place but it shouldn’t over ride or preclude other sensible capital mgt initiatives . Often too when you chase m&a , rather than being patient for right deal you invariably do waste shareholders money .

Other issue with Rock Stock channel as they call themselves, they pump very hard those companies that are paying them and spend little time talking about other non paying industry players . So it’s not neutral industry commentary , say like money of mine are trying to do with the mining industry as a whole . So take some of what they say on rock stock channel with a big grain of salt !!!!